Tax Information

Directive 86-24: Lottery Winnings; Lottery Tickets - how much tax do they take out of lottery winnings Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out how much are taxes on lottery winnings When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

how many people play poker The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn