Florida lottery ticket hits $ billion jackpot, nets $ million

Florida lottery ticket hits $ billion jackpot, nets $ million lottery taxes federal Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900 lottery sambad 08 09 23 With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

lottery sambad 08 09 23 First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional

lottery deadline time Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home A: For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax