Oregon's lottery winner is a billionaire before taxes; how much will

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their

federal income tax on lottery winnings Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which

federal tax on lottery winnings 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