How much tax do you pay on a $1000 lottery ticket?

[kayode10]

Taxation is one of the things the government don't joke with. if it is possible for them they are going to tax the air we are breathing in. They even go as far as taxing the tickets.

One of the questions I want to ask you guys is that How much tax do you pay on a $1000 lottery ticket? I will be looking forward to your response in the comment section below.

 

[James108]

In general, lottery winnings are subject to both federal and state taxes. At the federal level, lottery winnings are taxed at the marginal income tax rate, which can range from 10% to 37% depending on your total income.

 

[Qwert135]

Us based lotteries are taxed quite highly in my country as well you have to pay about 30% of the total amount of winning as tax and this is where you have to be actuallly knowledgable and you need to pay the taxes no matter what indeed .