How much do lottery winners pay in taxes?

How much do lottery winners pay in taxes? does the lottery get taxed Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a does turning up the volume on a slot machine help What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

does turning up the volume on a slot machine help Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

does canada have lottery Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free How does my change from a resident to a nonresident affect my New York State income tax obligation with respect to the lottery prize payment that I received as