The Best and Worst States to Pay Taxes on Lottery Winnings

federal lottery tax rate
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With a federal tax rate of 37%, a Mega Millions winner would pay a total of $ million in federal taxes and pocket $ million by

By law, non-resident aliens are subject to a flat 30% federal tax withholding and a % Connecticut The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in

lynne ji poker player If you win over $5,000 from a Powerball or Mega Millions jackpot, or any lottery game, state lotteries are required to withhold 24% in federal Of states that do withhold tax winnings, North Dakota is the lowest at % Pennsylvania , Indiana , and Ohio also have low rates of