Lottery Tax Planning for a Billion Dollar Drawing

michigan lottery tax calculator
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In Michigan, gambling winnings are subject to a 24% withholding for federal tax That said, the actual amount you need to pay taxes on depends

Taxes on Michigan Lottery Winnings Our team is also familiar with tax issues Msg & data rates may apply Text STOP to cancel Acceptable Use Policy

michigan online poker tax withholding of 24% Depending on the winner's taxable income for the year, they may face a federal marginal rate of up to 37%, further

michigan lottery strategies Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no