Lottery tax -

is lottery taxable
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Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on

is playing the lottery worth it If, for example, a lottery winner resides in a high-tax State, barring some nuance in State law, a lottery winner can change his or her domicile to a State that

is lottery gambling a sin for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series jackpot prizes, the Oregon Lottery is required to report all Video