Do you need to pay tax on lottery winnings?

Do you need to pay tax on lottery winnings? paying taxes on lottery winnings Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to today dear lottery result 6 pm Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken

today dear lottery result 6 pm If this were allowed, virtually no one would have to pay tax on ordinary income; any such income could be packaged, assigned, and transformed into capital gain

pastor sues lottery winner The top tax bracket for the highest earners in this country — which is where winning the lottery would bump the winner — has a 37 percent tax If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from