How much federal tax do you pay on lottery winnings?

Gambling Winnings Tax federal tax rate for lottery winnings First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional federal tax lottery winnings When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

federal tax rate for lottery winnings Not all states tax for lottery winnings, Federal does though Federal is entitled to 28% under 500k Over 500k they can take up to like 38% For