Keyword Analysis & Research: lottery payout calculator by state

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Frequently Asked Questions

What is the tax on winning lottery?

The taxation on lottery winnings can be as high as 45% to 50% in US. This includes the Federal tax, tax levied by the states, and in some cases, taxes levied by the cities.

How do you calculate taxes on lottery winnings?

Determine the actual lottery amount won by subtracting the state and federal tax payments from the gross lottery winnings. This is $20 million minus $7,290,000 and $1,600,000 for an actual payout of $11,010,000.


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