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

how much taxes do you pay on lottery winnings
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You have to pay the taxes for those winnings in full The point is valid for all winnings, regardless of how you might have acquired those funds

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be winnings as income on their tax return Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse and dog races and casinos

when do lottery tickets expire uk Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable The amount won is subject to a tax of 30% from the winner, irrespective of any other income the individual might be earning This is maintained