How much federal and state taxes are on 1 million in lottery winnings?

1 answer

Answer

1099615

2026-06-11 12:50

+ Follow

Taxed both Federally and State at your ordinary income rate, it's just like any other income, whatever that rate for you would be - (depends on many factors, dedcutions, other income, other expenses, businesses, etc). The State and Fed will withhold an amount of the payout as an estimated tax (like payroll withholding), until the actual tax for that person, that year is determined.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.