I Won the Lottery! How Bad Are Taxes Going to Be?

Similar arrangements, some set up before a lottery win and some after, are commonly made to share lottery winnings while trying to avoid gift taxes However,

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

how many winning lottery tickets are in a roll Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their

how late can you buy lottery tickets in texas Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and