What Is the Tax Rate for Lottery Winnings? - Money

The Internal Revenue Service requires the California Lottery to withhold federal taxes from many prizes However, you'll be happy to learn that there is

Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their

federal tax rate on lottery winnings Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,

federal lottery tax calculator Millions in lottery proceeds easily put the winner in the top federal income tax Some states have no income tax or don't tax lottery