Do I need to pay tax on my winnings?

These are the best, worst states to win the lottery in when you win the lottery how much goes to taxes As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to when is it a split pot in poker The prize money will be considered as separate from your income, and your regular income will be taxable as per your income tax rate slab You do not get any

when was lottery invented Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So in this scenario where just one