Tallying Up the Taxes on Lottery Winnings - TurboTax

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The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because

georgia lottery pick 4 Now it is the state's turn State tax rates on lottery winnings vary If you live in Georgia, your state tax rate for lottery winnings is %

georgia slot machines The benefit of the basic exemption limit and income tax slab rate is also not applicable to this income The entire amount received will be