Lottery Tax Rates Vary Greatly By State

federal tax on lottery
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Lottery prizes of $5,000 or more are subject to federal income tax withholding As a result, if you win a jackpot worth that much, 24% of

Lottery or scratch ticket purchases by a consumer are not subject to retail sales tax The organization reports commissions received from such sales on the

federal tax on lottery winnings While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

federal tax lottery winnings Lottery winnings that are more than $5,000 get a federal tax of 24 There are also additional federal taxes of about 37% In total