how much do they tax the lottery
Here's the tax bill for the winning $ Mega Millions ticket
how much do they tax the lottery
website how much do they tax the lottery Winning, receiving a share of a win or being gifted money has no tax implications on the initial amount and does not need to be reported to us how to win the lottery in bitlife cheat While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't provoked a public outcry If you win over
how much do they tax the lottery According to federal and state laws, if you provide a social security number the Lottery withholds 28 percent from your prize winnings (24 percent federal; 4 If you win more than $5,000 in the lottery or certain types of gambling, 24% must be withheld for federal tax purposes You'll receive a Form W- While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding
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