How are Lottery Winnings Taxed?

how much tax is on lottery winnings
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The tax is usually deducted at source by the lottery distributor before you receive the payout 2 Can lottery winnings be legally shared

The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also

how many players in poker texas hold''em In contrast, taxes on lottery winnings vary widely between states They typically range from 3% to 6%, but go up to % in New York — the

how to always win in poker The top tax bracket for the highest earners in this country — which is where winning the lottery would bump the winner — has a 37 percent tax