Are gamblinglottery winnings subject to Michigan individual income

federal income tax on lottery winnings
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The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $367,460,000 for a winner choosing the

federal lottery tax calculator Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which

federal taxes on lottery winnings The IRS withholds 25% of your winnings immediately, but you'll pay the rest of the federal income tax you owe when your taxes are next due in