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by rocklesson86 on June 12th, 2010
I thought it was 50%.
by skel1977 on October 7th, 2009
Depends on the amount but roughly 40 percent is gone if you take lump sum.
by Thriftymaid on October 7th, 2009
Federal tax is around 35%, then you may have state tax as well. See page 80.
http://www.irs.gov/pub/irs-pdf/i1040gi.pdf
Can out-of-state players win the lottery?
by Answerbag Staff on March 15th, 2011
| 1 person likes this
Who do you think is the real owner of this lotto winnings?
Any opinions?
by Beanss... on August 24th, 2011
| 1 person likes this
What is the highest federal tax rate applied to lottery winnings?
by Answerbag Staff on July 14th, 2010
| 1 person likes this
Do I have to pay taxes on a lottery win if I am over 70?
by Answerbag Staff on June 1st, 2010
| 1 person likes this
Anybody here won the $5,000 a week for life game?
by Mr.Bean Mime on July 17th, 2011
| 3 people like this
You're reading If you win $$$ (lottery, etc.) let's say in the millions, how much of that winning does the IRS get to take away from you? Is it a lower rate if the winnings are lower?
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