How much money will you get after taxes if you win the Mega

How much money will you get after taxes if you win the Mega federal taxes on lottery winnings Yes, lottery winnings are taxable under state and federal law In The Pennsylvania Lottery automatically withholds taxes for winnings federal government grant real facebook lottery winners list The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes

federal government grant real facebook lottery winners list Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

federal lottery tax rate The tax must be withheld by the Lottery Department on the date of actual or constructive payment, whichever is earlier, as defined in federal Treasury If you win the lottery do you pay taxes on winnings every year after? · A2A · No If you take the lump sum, you pay federal and state income tax