Publication 140-W - FAQS: New York State Lottery Winners -
In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government
Mega Millions After Taxes: How Much Will the Winner Get? how much taxes are taken from lottery winnings
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How winnings are reported to the IRS: Form W-2G · $600 or more if the amount is at least 300 times the wager (the payer has the option to reduce the winnings by
how to be good at poker Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of