Tax on winning lottery, puzzle, card game, horse race

tax rate for lottery winnings
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Part IV, Chapter 1, Taxes on Lottery Winnings 2 Tax Rates Income Tax at the rate of 20 percent shall be applicable on all lottery winnings

Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%

tax in lottery winnings While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

tax rate for lottery winnings tax in an amount equal to the highest marginal rate tax in effect under For the purposes of this section, the phrase winnings that are