Jan 13, 2016 ... In fact, in most states (and at the federal level), taxes on lottery winnings over
$5,000 are withheld automatically. However, withholding rates ...
Jan 8, 2016 ... Prize money = taxable income: Lottery winnings are taxed like income, and the
IRS taxes the top income bracket 39.6%. The government will ...
Jan 14, 2016 ... The lottery only withholds 25% of Powerball jackpot winnings, but when state and
federal taxes are added in, winners pay much, much more.
Mar 23, 2013 ... Should a resident of one of those nine states that don't tax lottery winnings be the
sole jackpot winner and opt for the lump sum, he or she will ...
Jan 13, 2016 ... Tax Tips. How Much Tax You Will Pay on Your Lottery Winnings. The federal
government wants to take a bite of that big Powerball payout.
May 6, 2016 ... Lottery winnings are taxed as ordinary income. "If they win the jackpot, they're
going to be subject to the highest federal tax rate of 39.6 percent ...
A big lottery jackpot win is a time for celebration, but it's also a taxing time. States
offer winners a lump-sum payout option, which many winners choose instead of ...
Taxation of lottery winnings. You should be aware that your lottery winnings are
taxable. This is the case for cash winnings and for the fair market value of any ...
When you buy a lottery ticket, you're not the only one that hopes you win. If you hit
a really big jackpot, you're going to have to pay a really big tax bill. While the ...
Winning the lottery comes with new pleasures as well as new taxes. Learn all
about the tax rate for lottery winnings at HowStuffWorks.