5 Tips for Avoiding Taxes on Lottery Winnings

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Lottery prize proceeds of more than $5,000 are subject to income tax withholding in accordance with § 48-7-101 Withholding From the Proceeds Paid

This week the Mega Millions jackpot is about $850 million and the Powerball jackpot is close

ganesha fortune slot png Mega Millions jackpot of $648 million Curry selected the cash option and received a lump sum payment of over $173 million before taxes Mail Icon Contact

gala bingo slot The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes