Here's how much you'll owe in taxes if you win the $1 billion

tax on $1 million dollars lottery
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Example 1: An individual buys a Wisconsin Lottery ticket for $1 The ticket is a winner of a $500 cash prize The individual provides their

California is one of the few states where lottery winners can pay no state taxes  Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

gold digger slot demo The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in For example, if a person purchases ten Connecticut Lottery tickets at $1 apiece for the same drawing and one of the tickets wins $5,500, the amount of the