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The lottery automatically withholds 24% on all prizes over $5,000 for federal taxes For a $1 billion lump sum, that would be $240 million Note

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lottery sambad 5 6 2023 Step-by-Step Calculation Process for Lottery Tax Calculator · Federal Withholding: $10,000,000 * = $2,400,000 · Actual Winning Before Tax: $10,000,000 -

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