Tax on Lottery Winnings by State 2023

Lottery winnings are taxed the same way as ordinary income See here for exact details Note that you would not pay the top tax rate on ALL of

If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get

lottery king martin Lottery Tax Calculator helps you determine what you owe in taxes Know how lottery winnings are taxed? What is the tax rate for lottery? And more at TaxAct

lottery result 19 12 23 Here are the states with the highest lottery tax rates (It is important to note that you will also pay federal taxes on your Powerball prize Generally, 24%