What Percentage of Lottery Winnings Would be Withheld in Your

federal lottery tax
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Millions in lottery proceeds easily put the winner in the top federal income tax Some states have no income tax or don't tax lottery

You are then taxed at the appropriate rate based on your income tax bracket It's not quite that straightforward, however… Federal Income Tax

federal lottery tax calculator Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

federal tax lottery winnings The withholding of federal or state income taxes, when required, does not affect the calculation of the proceeds from a wager Also, if a person makes multiple