The Best and Worst States to Pay Taxes on Lottery Winnings

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

If you win a really big jackpot, then you'll likely find yourself in the highest federal tax bracket and paying tax at the 37% rate For the

ny lottery calculator Young woman in Lotto shop playing ticket How to Calculate Florida Lottery Taxes Image Credit: kzenoniStockGettyImages Video of the Day Tax Rates If you

ny pick 3 lottery Lottery winnings are taxed as income at the state and local level and vary by location For instance, New York has one of the highest tax rates