0 votes
How is the lottery taxed?

1 Answer

+1 vote
Lottery winnings are taxed, with the IRS taking taxes up to 37%. Yet the tax withholding rate on lottery winnings is only 24%. Given that big spread, some lottery winners do not plan ahead, and can have trouble paying their taxes when they file their tax returns the year after they win.
Welcome to All about Slots&Casino site, where you can find questions and answers on everything about online gambling.
...