If you won the $ billion Mega Millions jackpot in Florida

florida tax on lottery winnings
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Federal taxes are the same for everyone Winnings are taxed 24% upfront, although the total tax bill will almost certainly be 37% when you

Seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming — don't have income tax, so big winners in those states won' When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

demo slot nexus If it's more than $5,000 the IRS requires the Florida Lottery to withhold 24% of that total in federal withholding taxes If you don't have a State Taxes: Florida does not impose a state income tax, so you will not owe any state income tax on your lottery winnings Additional