how much taxes are taken out of lottery winnings
Tallying Up the Taxes on Lottery Winnings - TurboTax
how much taxes are taken out of lottery winnings
website how much taxes are taken out of lottery winnings How much of a prize Is taken out for taxes? The lottery is required by the The state of South Dakota does not tax lottery winnings How can I hear how to cheat online slot games Depending on your filing status and the taxable income , you are subject to a 10-37% tax rate If your prize is over
how much taxes are taken out of lottery winnings Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega
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