Winner Of $ Billion Lottery Gets $ Million After Tax

do you get taxed on winning the lottery
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Example: If you won $10,000 but lost $15,000 You may deduct $10,000 California lottery We do not tax California Lottery or Mega millions

Yes and no Technically, the answer is no The IRS taxes the money in the exact same manner, whether you take a lump sum payment or not Twenty- That's one reason the winner should bank some of the money to be sure they have it on April 15th If you add the 24% withholding tax plus the 13

newtown slot game download Have you ever wondered about people who win money on game shows like Kaun Banega Crorepati, Bigg Boss, Indian Idol, etc , paying tax or not? Do Still, you'll probably owe more when taxes are due, since the top federal tax rate is 37% So a good first step a lottery winner could take is