Mega Millions lottery winnings: How much do you make after taxes?

winning from lottery tax rate
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Oregon withholds an 8% state tax on lottery prizes of $1,500 or more So, your lottery prize payout comes minus the 8% state tax The state reminds taxpayers

By law, prizes of more than $600 will face a 5 percent state withholding tax The tax withheld will be a credit toward taxes owed; winners may get some of You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize

lottery tax canada 2 Federal Tax Withholding: The lottery is required to withhold 24% of your winnings for federal income tax purposes if you win more than $5,000 The entire amount will be taxable at a flat rate of % For example, if you were to win a prize of ₹4 lakh at a contest and your annual