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 12, 2016 ... The lottery only withholds 25% of Powerball jackpot winnings, but when ... Most
stories about lottery prize taxes highlight a federal income tax withholding of 25%
for ... Puerto Rico No state or federal taxes on lottery winnings.
Mar 23, 2013 ... Washington, D.C., which also participates, does tax lottery winnings. ... top
federal rate in 2016 on ordinary income and gambling winnings are ...
Jan 13, 2016 ... Tax Tips. How Much Tax You Will Pay on Your Lottery Winnings ... The top
federal tax rate is 39.6% on 2016 income of more than $415,050 for ...
Jan 12, 2016 ... Lottery winnings are taxed as ordinary income. ... be subject to the highest
federal tax rate of 39.6 percent," said Melissa Labant, director of tax ...
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 ...
Depending on your other income and the amount of your winnings, your federal
tax rate may be as high as 39.6%. Your lottery winnings may also be subject to ...
As of 2012, the top federal income tax rate is 35 percent, applied to all taxpayers
regardless of filing status if taxable income exceeds $398,350. But the lottery ...
If you win big, the 25 percent withholding might not be enough. ... percent of
lottery winnings be withheld for federal income tax, you'll owe even more if you
win a ...