How Taxes on Lottery Winnings Work

how much taxes come out of lottery winnings
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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 that

Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

how much tax is taken from lottery winnings out those golden nuggets in nice, clean display cases so that you won't miss much in taxes — this book also explains legal strategies for slashing

how are the lottery numbers picked Q- How much tax is paid for a 5 crore lottery? The entire amount received will be taxable at the flat rate of % The award winner would