Why the Lottery is a Regressive Tax on the Nation's Poorest

lottery federal tax rate
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The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

The IRS automatically takes 25% of any lottery winnings as tax money, so you can already drop that cash lump sum to $451,875,000 The sign on

lottery uk thunderball The winnings are subject to federal income tax withholding The tax withholding rate is 24% for lottery winnings, less the

lottery on wednesday If you are not a resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above Consult with your