What Is the Tax Rate for Lottery Winnings? - Money

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What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

california lottery drawing What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

california lottery pick 3 If you're familiar with big lottery prizes or other gambling wins, you know you have to pay taxes on your prize How much you pay will depend on