Lottery Tax Rates Vary Greatly By State
Lottery Tax Rates Vary Greatly By State
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How lottery prizes or winnings affect your taxes or potentially unemployment benefits, depends upon your individual financial situation Winning a lottery prize
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, Federal taxes: $ million; Take-home: $538 million The total federal tax rate, however, is higher Tax experts say exact tax amounts can't
slot gallery no deposit bonus Income from Other Sources: Lottery winnings or game show winnings are considered income from other sources under the Income Tax Act Taxable Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the
