How much will Mega Millions winner get after taxes? $ billion

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In South Carolina, lottery winnings are subject to a 7% tax rate This tax applies to prizes won in state lotteries, including both scratch-off tickets and

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

kaiju slot When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal In the case of winnings from horse races, income is taxable at % without any exemption limit · There would be no deduction of any