Mega Millions: How much will you have left after taxes if you win the

Are gamblinglottery winnings subject to Michigan individual income lottery payout after taxes Q: Are lottery prizes subject to taxation? A: Effective August 13th 2018, lottery winnings are subject to taxation ; Q: What is the rate of tax? A: Ten percent lottery youtube The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

lottery ticket barcode scanner free However, the windfall shrinks dramatically after the IRS collects its share of the prize, and state taxes could further reduce winnings