Are gamblinglottery winnings subject to Michigan individual income

how do lottery taxes work
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The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket, Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

bingo blitz free credits slot freebies Such gains are subject to taxation under the Income from Other Sources heading Taxes that are due must be paid, or else fines and legal Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted