what is the tax rate for lottery winnings
Gambling and Lottery Winnings
what is the tax rate for lottery winnings
what is the tax rate for lottery winnings
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what is the tax rate for lottery winnings Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900
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