How much tax has to be paid on lottery or game show prize money?

Here's what the $1 billion Powerball winner could owe in taxes calculate taxes on lottery winnings winnings If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You calculate lottery annuity Any lottery prize winnings accrued for this purpose must be excluded in determining New York City taxable income for the year of change and any subsequent year

calculate taxes on lottery winnings Lottery and other lotteries, are subject to federal and Minnesota income taxes You must report and pay income tax on all prizes and