Do you need to pay tax on lottery winnings?

Lottery Tax Calculator: How Your Winnings Are Taxed how much do they tax on lottery winnings Before seeing a penny of the jackpot, the winner will pay a 24% mandatory upfront federal withholding to the IRS If they choose the $ how to play american lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

how long does lottery take to pay out 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