Gambling Winnings Tax

Here's the tax bill for the winning $ Mega Millions ticket what is the tax percentage on lottery winnings Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments what to do when i win the lottery You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes · Most tangible

what is a postcode lottery prize voucher If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from