Do you pay tax on lottery winnings?

Amounts that are not reported or taxed - is the lottery taxed Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of is a ripped lottery ticket still valid Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

is online poker legal in ct You might be curious if lottery winnings are subject to taxation No, in a nutshell, but here's what you need to know