What Percentage of Lottery Winnings Would be Withheld in Your

how much tax is taken from lottery winnings
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The winning amount is tax free, however you will be charged when you put it in the bank or when inheritance tax is charged

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

how do lottery tickets work As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to

how to play 5 card draw strip poker 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