How much tax would you pay if you won the $977 million jackpot?

For prizes over $600, the Texas Lottery Commission is required to withhold 24% for lottery winnings, less the wager Examples: * If you purchase a $50 ticket

If the winner is a resident, the Texas Lottery Commission is required to withhold 24% for federal taxes upfront However, based on

tax on lottery winnings canada To reduce the amount of taxes paid on the winnings, you have the option to gift money to family and friends The 2020 Annual Gift Tax Exclusion amount is

tax on lottery winnings australia Tonda Lynn and her relatives found this out when the IRS, backed up by the Tax Court, ruled that there had been no binding contract to share the lottery