0 votes
How much tax do lottery winners pay?

1 Answer

0 votes
Lottery winnings are taxed, with the IRS taking taxes up to 37%. Yet the tax withholding rate on lottery winnings is only 24%. Given that big spread, some lottery winners do not plan ahead, and can have trouble paying their taxes when they file their tax returns the year after they win.
Welcome to our site, where you can find questions and answers on everything