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Depending on how much you win and on your income, you'll then have to pay a further % to make up the total % that's the top income tax

Proceeds of lottery prizes shall be subject to Kentucky state income tax , but this section does not prohibit the purchase of a ticket by a person  The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes

kerala lottery result padam Yes, Lottery prizes are taxable income under federal and state law For prizes over $600, you will receive a W-2G form from the Lottery to report your winnings After all the federal taxes, including the 24% tax, your total jackpot will be $493,516,045 What do you want to know about life in Sacramento?