Lottery Tax Rates Vary Greatly By State
The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also
Powerball Jackpot Winner Will Get a Hefty Tax Bill lottery winning tax rate
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Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%
lottery district office near me The tax withholding rate is 24% for lottery winnings, less the wager, for prizes greater than $5,000 An example of the calculation used to determine whether a