Taxes on Lottery Winnings by State 2024

Who can you give your lottery winnings to? how much do they tax the lottery With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after how does the lottery work In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

how do you buy a lottery ticket Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%