Here's the tax bill for the winning $ Mega Millions ticket

Forbes highlighted that since gambling winnings necessitate obligatory federal withholding taxes, the lump sum payment is subject to a mandatory

Amount of Taxes All lottery winnings are considered income and as such are taxed according to the applicable Federal, District, state and local laws The

lottery sambad 10 6 23 The withholding rate for federal income tax is based, in part, on a claimant's resident status The Lottery is required to withhold federal taxes of 24% for

lottery sambad 03_11_23 Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024