Do you need to pay tax on lottery winnings?

lottery winner taxes
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lottery winner taxes Lottery winnings are also subject to taxes in some states, including rates as high as % in New York to as low as % in  With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after  If, for example, a lottery winner resides in a high-tax State, barring some nuance in State law, a lottery winner can change his or her domicile to a State that

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