#26 Posted: 3/8/2012 1:22:58 PM QUOTE Originally Posted by AustinHoopDream:
federal tax rate is 35% on the winnings...and the cash value option took it to 50%.. Federal tax rate on lottery winnings is 25% and every state has a different tax rate. In Michigan it is 4.35%.
http://www.usamega.com/mega-millions-jackpot.asp
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