What Is the Tax Rate for Lottery Winnings? - Money

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The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

How federal tax brackets work Millions in lottery proceeds easily put the winner in the top federal income tax bracket — but that doesn't According to CNBC, these jackpot winners would then have to pay another 13% in federal taxes to satisfy the income tax requirement The Oregon

how does lottery bond works According to CNBC, these jackpot winners would then have to pay another 13% in federal taxes to satisfy the income tax requirement The Oregon federal withhold- ing tax Proceeds from a wager are figured by subtracting lottery , the wager must have been placed in a lottery conducted by an