Learn about gambling and the lottery in Massachusetts -

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

The prize money is subject to federal taxes Many states also tax lottery winnings, though Florida has no state income tax A Florida law

lottery sambad 29 9 23 Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

lottery financial advisor LAKELAND, Fla — Thousands of Floridians have had their lottery winnings withheld by the state because they were overpaid in unemployment