Do I have to pay taxes every year on lottery winnings?

Do I have to pay taxes every year on lottery winnings? federal taxes on lottery winnings Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, federal tax lottery winnings This means you'll pay federal income taxes on your winnings, although the amount depends on how much you win, your other income, and your tax

federal tax lottery winnings State lottery winnings are reportable to the IRS where the State agency conducting the lottery requires a winner to complete federal Form W-2G, Certain Gambling

federal tax rate for lottery winnings In the USA, federal income tax is payable on lottery winnings In addition, some states also tax them, others do not If state tax is paid, that As a result, if you win a jackpot worth that much, 24% of your winnings will be withheld from your payment for federal taxes That money is sent