Lottery Tax Rates Vary Greatly By State

The lottery agency must withhold 25% of your winnings for federal income taxes How much is withheld for state income taxes varies from state to

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

lottery income tax rate California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders However, this doesn't mean the

lottery sambad 19_02_24 The tax must be withheld by the Lottery Department on the date of actual or constructive payment, whichever is earlier, as defined in federal Treasury