How To Minimize Taxes On Lottery Winnings—And Maximize Returns

do you pay tax if you win the lottery
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Lottery winnings are considered income and, like most other forms of income, are subject to taxation The Internal Revenue Service

When a winner is not a citizen or a legal resident of the , we are required to withhold federal taxes of 30 percent for any prize paid We are required

dominican lottery national When you win the lottery, your winnings are considered ordinary taxable income Your prize money is taxed at the same rate as your wages and

double win slot Legally classed as gambling, any profits you make from buying a lottery a ticket are exempt from tax, so the full amount you win is the amount paid to