With the enticingly large multi-state Powerball payouts lately, the potential estate tax consequences for lottery winnings can be significant
If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal
texas holdem poker chip values Mega Millions after taxes The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,
