Special tax on lottery prizes and betting

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The Mega Millions lottery top prize of $ billion was won by a single ticket in Friday night's drawing, an amount of money most of us

All lottery winnings are subject to Federal and state income taxes and sizable jackpots are taxed at the maximum federal rate of 37% View tax information on gambling and the state lottery in Massachusetts Find out how to report your winnings, what they mean for your tax returns,

lottery canada 649 Washington Washington has no personal income tax and won't tax your lottery winnings at the state level However, Washington's state Supreme Lottery and Gambling Winnings · 5% for Lottery payouts between $10,001 and $500,000; · 8% for Lottery payouts over $500,000; and · 8% for