Taxes on Lottery Winnings Explained

taxes and shipping 2 Consumption dues on industrial pro- ducts , , textiles tax , etc 5 Lottery taxes , 3 per cent on the capital of Federal

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

lottery redults California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not have lottery winnings withheld This means that only federal

lottery sambad 16 11 23 The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes