Why are lottery winnings taxed so much? You won it not the

federal lottery tax rate   Dan federal lottery tax

Sales Tax Rate Charts · Tax Facts · Statistics · Online Services · Contact · About DOR The state of South Dakota does not tax lottery winnings How can I

Tax Band 3: Any prize above $5,000 is subject to a tax rate of % for non-residents Texas lotteries The IRS additionally imposes a 25% federal withholding rate from lottery winnings Federal Taxes on Lottery Winnings FICA taxes—Social

lottery sambad 07 09 23 The IRS takes federal tax “off the top ” But the winner then pays additional federal income taxes based on the tax rate tied to their federal This means you'll pay the highest federal tax rate of 37% Assuming there are no deductions, you'll be liable to pay $344,814 in federal taxes