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

income tax treatment of lottery prizes This guidance applies specifically The lottery prize payment is gambling winnings taxed as ordinary income

Lottery and Gambling Winnings · 5% for Lottery payouts between $10,001 and $500,000; · 8% for Lottery payouts over $500,000; and · 8% for

isb slot A: Effective August 13th 2018, lottery winnings are subject to taxation Q: What is the rate of tax? A: Ten percent

isa slot function You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize