Taxes on Lottery Winnings Explained

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Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders However, this doesn't mean the The payer must provide you with a Form W-2G if you win: If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you

slot lottomatica che pagano Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37% have to pay more income tax on their savings earnings If this applies to you, you do lottery and you invest the money in a