Do I need to pay tax on my winnings?

As a general rule, if you live in one state and win a lottery in another, you are first taxed by the state where you bought the lottery ticket

If you take the lump sum payout of a sizable lottery jackpot, you will likely be pushed into the top tax bracket of 37%

how to increase your chances of winning the lottery That's a big check to write come April 15th Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan

how many people play postcode lottery Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of