Connecticut Income Tax Treatment of State Lottery Winnings -

Connecticut Income Tax Treatment of State Lottery Winnings - federal tax lottery winnings However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the federal government grant real facebook lottery winners list If you choose to donate, split, or assign your lottery winnings, in whole or in part, it is taxable to the recipient in the same way as for federal income tax

federal government grant real facebook lottery winners list The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega

federal tax on lottery winnings The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900