I Won the Lottery! How Bad Are Taxes Going to Be?

website lottery taxes in florida Immediately, 24% of the cash value is withheld for federal taxes It doesn't stop there — winning this jackpot would put the winner in the lottery ticket price uk 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

lottery taxes in florida 3 Some states do not tax lottery winnings at all These states include California, Delaware, Florida, New Hampshire, South Dakota, Tennessee,  Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no  Fla Admin Code Ann 53 ER 95-27 Lottery winnings are taxable under C §61 All subsequent statutory references

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