New Jersey Lottery Questions and Answers -

what is tax on lottery winnings
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A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of

While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

what is straddling poker Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

what is a slot receiver in football Yes, it's true Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as