Connecticut Income Tax Treatment of State Lottery Winnings -

federal taxes on lottery winnings
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taxes could further reduce winnings More from Life Changes Millions in lottery proceeds easily put the winner in the top federal

Under IRS rules, lotteries automatically withhold 24 percent of any win bigger than $5,000 for federal taxes, meaning that lump sum will have Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher

nagaland lottery result satta result Sharing of Lottery Winnings The federal requirements to file information returns and withhold federal income tax from gambling winnings  Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes