Are Lottery Winnings in a Foreign Country Taxable in the US?
Are Lottery Winnings in a Foreign Country Taxable in the US?
federal income tax on lottery winnings
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That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and
The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in
federal lottery tax calculator Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900
federal tax rate for lottery winnings Lottery winnings over $5,000 are subject to both federal and state income tax withholding—this is, part of your winnings are automatically paid