How much tax has to be paid on lottery or game show prize money?

All About Lottery Taxes lottery winner taxes Lottery winnings are taxed at a flat 30% rate in the states where it is legal to play and can be added an extra percentage depending on the lottery 26 tarikh Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Powerball winner does select

lottery games in california Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and