State of NJ - Division of Taxation

what is the federal tax rate on lottery winnings   Dan what to do if win the lottery

An average family's top federal tax rate could go from 22% to 37% But remember, if that happens, you likely won't pay the top rate on all your money That is

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 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

las vegas poker However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an