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How much are taxes on Mega Millions winnings?

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The potential tax bite Element $1.6 billion Mega Millions jackpot 24% federal tax withholding less $217 million 13% more (diff. bet. 24% and top tax rate of 37%) less $117.5 million State tax of 0% to 8.82% less 0 to $79.7 million After-tax bottom line $489.8 million to $569.5 million 1 more row
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