What if you won the lottery and after taxes you got 1 million dollars?

1 million lottery after taxes
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Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that 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

slotter slot All winnings over $5,000 are subject to tax withholding by lottery agencies at the rate of 24% This potentially leaves a gap between the Who won biggest lottery jackpot ever? How much did they actually win, was it cash option? · After taxes, $ billion Powerball lottery winner