What Percentage of Lottery Winnings Would be Withheld in Your

federal lottery taxes
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With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

Taxes: The IRS requires that you report ALL Lottery winnings The Lottery is required by law to withhold 24% for federal taxes and % for state income taxes

federal lottery Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

federal income tax on lottery winnings federal withhold- ing tax Proceeds from a wager are figured by subtracting lottery , the wager must have been placed in a lottery conducted by an