What Is the Tax Rate for Lottery Winnings? - Money

Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

Hey Preston, Winners are not double-taxed on lottery winnings By law, we are required to withhold 24% federal and % state taxes on prizes

federal lottery tax rate Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or

federal lottery taxes Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state