What Is the Tax Rate for Lottery Winnings? - Money

federal income tax on lottery winnings
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How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22

Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state

federal lottery tax calculator The tax year will be determined by the date on the check from Lottery and they will withhold estimated taxes for federal, and for most state,

federal lottery If you live in one of ten states that don't tax lottery winnings, you're probably off the hook for state income taxes They include: Alaska