Lottery Tax Planning for a Billion Dollar Drawing

indiana lottery tax
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Playing the lottery is classed as gambling as far as the Internal Revenue Service is concerned, which means that you are entitled to a tax deduction on

Currently, Indiana's personal income tax rate is % Almost all gambling winnings are subject to this tax Casinos typically withhold 25% of your winnings

indiana lottery winners The lottery and taxes go together like peanut butter and jelly You will have to pay tax on lottery winnings, 25% is immediately and more come tax time

indiana lottery pick 4 evening If you win the lottery, you'll likely be propelled into the highest federal tax bracket The state where you live and the place where you bought