How much do lottery winners pay in taxes?

federal lottery taxes
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federal lottery taxes Federal tax Right off the bat, lottery agencies are required to withhold 24% from winnings of $5,000 or more, which goes to the federal  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  For non-resident aliens, current tax laws require that the Lottery withhold 30 percent in federal income taxes on all Lottery prizes and percent in

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