Lottery Tax Calculator: How Your Winnings Are Taxed

Lottery Lump Sum vs Annuity lottery lump sum percentage As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to lottery result today 3pm There isn't a 66% tax on lottery winnings It's 37% plus the state tax rate But you lose half the jackpot if you take the lump sum

lottery payout after taxes Most jackpot winners go with the lump sum, which means they get the “cash value” of that jackpot For Wednesday's Powerball jackpot, the cash