What's the Tax on Lottery Winnings?

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If I won today's $550 million jackpot, I'd pay 24% in federal taxes, plus 4% in state taxes What they're saying: It's difficult

Federal taxes on Powerball wins Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest All must pay lottery tax of % with cess if the winning amount is above Rs 10000, regardless of their income, winnings, age,

graton poker tournaments Taxes Income Tax  If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding