If you win the lottery, how much does the government take in taxes?

Question

you never know

Answer 1

Okay family wins 1.4 mill they after the governement they get back $995,000. So you can do the math.

Answer 2

If you are talking about winning the largest prize available for a lottery, in the millions, then the government's cut of the take is approximately 39% (the rate for the highest income tax bracket).

Answer 3

In the US you are taxed heavily in winnings and can easily be paying 60% of your winnings in tax if you choose to take the lump sum which is what most do.

In the UK you pay tax upon purchasing the ticket (it is built into the cost), so when you win it is all tax free http://www.national-lottery.co.uk

Answer 4

Way too much, I'm sure.  C'mon, that was hard earned money...:(