New Jersey Lottery Questions and Answers -

federal tax for lottery winnings
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Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

federal lottery tax calculator That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

federal tax rate for lottery winnings The IRS views lottery winnings as ordinary income The top tax winning the lottery would bump the winner — has a 37 percent tax rate