Tax on Lottery Winnings by State 2023

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The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn  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

poker a lyon 2024 - LottoTexas - Texas Lottery Winning NumbersDrawing Results and prize amounts Texas Rural Communities , for subsement , and improvement , and for lottery , based on the formula real and personal property comprising the burden