These are the best, worst states to win the lottery in

federal lottery tax rate
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With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from

federal lottery taxes Federal Tax on Lottery Winnings · Federal withholding rate for gambling income: 24% · Federal income tax brackets for 2022: If income is $10,275

federal income tax on lottery winnings But remember, the federal tax brackets are marginal brackets, and you won't pay 37% on all your winnings You only pay the 37% rate on each