Are gamblinglottery winnings subject to Michigan individual income

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That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and So, for instance, if you make $42,000 annually and file as single, your federal tax rate is 22% If you win $1,000, your total income is $43,000, and your tax

kuy138 rtp slot Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government