Tax on Winning Game Shows and Lotteries

Taxes on Lottery Winnings by State 2024 federal tax on lottery The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also federal government grant real facebook lottery winners list Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their

federal tax rate for lottery winnings Lottery winnings that are more than $5,000 get a federal tax of 24 There are also additional federal taxes of about 37% In total