Do we have to pay taxes on winning money from a lottery? If

do you get taxed on a lottery win
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Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

In most states, the tax is taken from the prize money before it's ever given to the winner Details on when and how much the winner pays differ Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free

ohio lottery progressive games Income that is not taxable You will not have to pay tax on: lottery winnings and other prizes; some government grants and payments; child support; the tax The fact that state lottery winnings may not have been required to be reported to the IRS does not excuse a winner who