Tallying Up the Taxes on Lottery Winnings - TurboTax

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $ However, if your newfound wealth puts you in the top

federal tax rate on lottery winnings Under Act 84 of 2016, the Pennsylvania personal income tax of percent now applies to Pennsylvania Lottery cash prizes paid after January 1, 2016

federal tax lottery winnings Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $ However, if your newfound wealth puts you in the top