Comments on: Taxes on lottery winning Online lotto games, lottery site reviews, articles, news, shopping and other resources Sun, 27 Sep 2009 07:44:16 +0000 hourly 1 By: Judy Sun, 27 Sep 2009 07:44:16 +0000

You wouldn’t pay tax on what you had left of your winnings, but assuming that you got interest for having it in the bank, you’d pay tax on the interest.

By: Jerry BO Wed, 23 Sep 2009 04:30:07 +0000 Create a video blog

Yes. On the interest, and when you spend it, and when you
die, your children will have to pay inheritance tax to get it.

By: Oh Boy! Tue, 22 Sep 2009 20:34:12 +0000 Create a video blog…instantly.

The highest bracket for federal taxes is 35% so you’d pay up to that plus any state and local taxes.

Once income taxes are paid you would pay tax on the earnings generated by money and would be liable for any estate tax if there was a significant amount of money left when you died.

By: wartz Mon, 21 Sep 2009 09:28:11 +0000 Create a video blog

Your winnings are treated as ordinary income just like wages so, if you hit the big one, you will pay at the top marginal rates.