Why do we pay taxes on lottery winnings if the money people use to

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize

how to book a slot for aadhar update The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega

how to play cards poker You have to pay the taxes for those winnings in full The point is valid for all winnings, regardless of how you might have acquired those funds