How are Lottery Winnings Taxed?

Taxes on Lottery Winnings by State 2024 tax for winning lottery Tax Rate: Winning from lottery is taxable at a special rate of 30% No deduction is allowed Also no benefit of slab rate can be taken taxes on slot machine winnings Income Tax on winning from Lottery Crossword Puzzles Games shows & Race Horses etc will be taxable under the head “Income from Other Sources”

taxes on 2 million dollars lottery winnings 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