How Lottery Winnings are Taxed
Tax claims: In the case winnings are over $599, they are subject to a federal income tax of 25% for US citizens (30% for all others). Taxes are withdrawn directly upon the winnings receipt. Therefore, all the lottery winnings over $599 will be credited to the prize account, minus the above-mentioned tax of 25%. With a one-time jackpot cashing out, the winner gets approximately 45-55% of the clai