Lottery Tax Calculator: How Your Winnings Are Taxed
Lottery Tax Calculator: How Your Winnings Are Taxed
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How are Lottery winnings taxed? All Lottery prizes, regardless of the amount, generally are considered as income by the state and federal government For
The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made
slot o pol deluxe играть The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be This means you'll pay federal income taxes on your winnings, although the amount depends on how much you win, your other income, and your tax