Lottery Tax Rates Vary Greatly By State

Lottery Tax Rates Vary Greatly By State federal lottery taxes
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federal lottery For non-resident aliens, current tax laws require that the Lottery withhold 30 percent in federal income taxes on all Lottery prizes and percent in

federal tax rate on lottery winnings 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, Lottery winnings are taxed by the federal government and by many state governments, but there may be steps you can take to avoid them