What Is the Tax Rate for Lottery Winnings? - Money

If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an

lottery if the winnings are at You must withhold federal income tax from the winnings if the winnings minus the wager

federal lottery In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

federal lottery tax Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no