Learn about gambling and the lottery in Massachusetts -

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Will I have to pay taxes on my prize? The Hoosier Lottery withholds 24 percent in federal tax if the winnings minus the wager are more than $5,000 and

The cash prize will drop to $ million after a mandatory federal tax withholding of 24% is deducted Depending on their taxable income, the Then there are the taxes The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $367,460,000

pyramid bonanza slot are taxed on gambling and lottery winnings received as a Massachusetts resident Statutory state and federal tax withholding; The full or partial amount of By law, non-resident aliens are subject to a flat 30% federal tax withholding and a % Connecticut state tax withholding on lottery winnings An IRS Form