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 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.
Jan 13, 2016 ... The top federal tax rate is 39.6% on 2016 income of more than ... Maryland and
Arizona withhold taxes on lottery winnings from non-residents.
Jan 12, 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 ...
While you don't have to report lottery winnings of $600 or less, if you win more
than $5,000, the government will hit you with a 25 percent federal withholding tax
Jan 14, 2016 ... Federal taxes of $232 million will be withheld, and $56 million for state taxes. ...
States with the highest lottery withholding tax rate. 1. New York ...
The winnings are subject to federal income tax withholding (either regular ... such
as a car in a sweepstakes, wagering pool or lottery, must be taken into account ...