Lottery Winnings

Lottery Winnings federal tax lottery winnings
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federal tax on lottery If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

federal government grant real facebook lottery winners list Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or For winnings over $5,000, the payor must withhold a minimum of 28% for federal withholdings and up to 15% for state withholdings You will pay