Tallying Up the Taxes on Lottery Winnings - TurboTax

Lottery winnings are subject to federal income tax at a rate of 24 percent, and Virginia takes another 4 percent in taxes The odds of winning

You are required to collect these records yourself and report it as income, then pay the state's % tax on it If you win $3,000, for example

does lottery winnings count as income The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

does it matter what pcie slot i use State taxes on lottery winnings differ · Washington, : % · Maryland: % · New York: % · New Jersey: 8% · Oregon: 8% · Wisconsin: %