Oregon's lottery winner is a billionaire before taxes; how much will

Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner

Oregon's lottery winner is a billionaire before taxes; how much will In the United States, the taxation of lottery winnings varies from state to state While some states impose taxes on lottery winnings, others do not

Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner

federal taxes on lottery winnings The lucky ticket holder can expect an automatic federal withholding of 24% and state withholding of 8%, but the final bill will be millions more

The tax year will be determined by the date on the check from Lottery and they will withhold estimated taxes for federal, and for most state,

federal lottery tax calculator The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner