Taxes are taken out from Massachusetts Powerball winnings

what percentage of lottery winnings are taxed   Dan what are the chances of winning the lottery on a scratch off

First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments You'll include the amount of your winnings when you file your tax return for the year rather than at the casino when you claim them Make sure to keep good

sat0087 Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that