Judy1
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Because the money you won was income. You don't just pay taxes on income from a job, but also many other kinds of income. |
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dmv1221
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because it's the law!!!!! |
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shoredude2
 |
Because, the US government taxes citizens on all income, unless that source is specifically listed as a source of income that isn't taxed (such as municipal bond interest).
Not all states tax lottery wins in their own state. For example, PA residents don't pay state taxes on PA Lottery winnings but they do on lottery winnings from other states. |
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linkin
|
Because it's considered income |
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sukhvir p
|
yes you have to pay tax on the lotto income.
There is a good news too. you can claim the deductions for lotto loss upto the amount of winning. ( in case you lost money in lotto during the year). |
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cottagstan
 |
If you win and don't want to pay taxes, then move to Canada and win up there where lottery winnings are tax free. |
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richard t
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don't pay and see what happens............. |
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AussieGent
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Australia does not tax lottery or other gambling winnings. However other income earned from those winnings are taxable. Tax is paid on the amounts gambled. |
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v b
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You need to move to Canada, change your citizenship to Canadian and win the Canadian lottery--their government doesn't tax lottery winnings.
The US government does. |
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moms_rose
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Yes, you do! |
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yesiknow
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they feel you did not earn it so you don't need it. That is why you should vote for Hillary . She will probably want all of it. |
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thoughtsponge21
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I believe you actually have to pay taxes on any sum of money won. And life just sucks and then you pay taxes and then you die. But be glad you won a large sum of money and stop whining. |
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^patty^
 |
Because that is the way it is. Dont matter why. |
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Tru Warrior
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prize money is earned income |
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gemini
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Yes you have to pay taxes. State and Federal. |
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techbankguy
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Yep.. based on the amount paid. So if you take it up front, you pay it as if all that money was income.
Often over 50% |
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DRK1946
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yes you do but here is a trick to screw them up . When they give you the check go to the bank and demand CASH - otherwise if you put it in the bank again it will be treated as another taxible item . |
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