Mega Millions jackpot: How much will the winner pay in taxes

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The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they

An Example of How to Calculate Mega Millions Payout · You win $1 million The lottery adjusts the sum to around 61% · The applicable taxes are The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they

games in poker If you win over $5,000 from a Powerball or Mega Millions jackpot, or New York has the highest lottery tax rate at % If you Though some states do not have a state lottery tax withholding, they all must withhold 24% in federal tax on prizes as large as this jackpot