So You Won the Lottery, What Now?

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

The Internal Revenue Service is usually first in line to apply a 37% tax rate to your winnings The good news is there is no income tax on

taxes on lottery winnings calculator canada In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

taxes on lottery winnings calculator A sole winner in Texas who took the cash option would take home $392,768,000 after paying $124,032,000 in federal taxes