These Eight States Won't Tax Your Mega Millions Jackpot Winnings

federal tax rate for lottery winnings
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For example, in New York, lottery winnings are subject to a progressive tax rate that ranges from 4% to %, depending on the size of your

What are the lump sum lottery winnings after taxes? The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the

federal tax for lottery winnings The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

federal tax rate on lottery winnings Not all states tax for lottery winnings, Federal does though Federal is entitled to 28% under 500k Over 500k they can take up to like 38% For