What's the Tax on Lottery Winnings?

federal lottery tax rate
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lottery prize is not exempt from federal income tax because of a foreign tax treaty The current federal withholding rate for individuals is

All winnings over $5,000 are subject to tax withholding by lottery agencies at the rate of 24% This potentially leaves a gap between the If you add the 24% withholding tax plus the 13% extra tax the winner will pay April 15th together, you get a federal tax of $289,821,000 Check

nirmal lottery nr 358 The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on Of states that do withhold tax winnings, North Dakota is the lowest at % Pennsylvania , Indiana , and Ohio also have low rates of