How Are Lottery Winnings Taxed in California?

federal lottery tax calculator   Dan federal taxes on lottery winnings

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IRS withholding tax, drops to $567,872,000 But the winner shouldn't spend all that After all, the federal income tax rate goes up to 37 With a federal tax rate of 37%, a Mega Millions winner would pay a total of $ million in federal taxes and pocket $ million by

national lottery draw numbers The current withholding rate for Illinois income tax is percent The Lottery is currently required to withhold federal taxes of 24 percent for  Lottery winnings of $600 or less are not reported to the IRS; winnings in excess of $5,000 are subject to a 25 percent federal withholding