I Won the Lottery! How Bad Are Taxes Going to Be?

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You don't pay tax on your lottery winnings, and any money gifted to family and friends is free of tax The only tax you or the gift recipients

How Much Do Lottery Winners Pay in Taxes? Unveiled! Are you curious about the tax If you take the lump sum payout of a sizable lottery jackpot, you will likely be pushed into the top tax bracket of 37%

北野翔太 If you normally earn $49,725 as a single tax filer, just $5,000 of your income would be taxed at 22% · But if you had a $100,000 winning ticket, your total Plus, the top federal tax bracket, which currently stands at 37%, could get higher over time, he said Some states have no income tax or don't