How Do Taxes on US Lottery Winnings Work?

colorado lottery tax
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According to federal and state laws, if you provide a social security number the Lottery withholds 28 percent from your prize winnings (24 percent federal; 4

Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken

colorado lottery anonymous The federal government does not have a general lottery tax Lottery winnings are just taxable income Those funds go into the general fund

colorado lottery scratch State taxes on lottery winnings differ · Washington, : % · Maryland: % · New York: % · New Jersey: 8% · Oregon: 8% · Wisconsin: %