What Is the Tax Rate for Lottery Winnings? - Money

tax for winning lottery
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While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

Still, you'll probably owe more when taxes are due, since the top federal tax rate is 37% So a good first step a lottery winner could take is

taxes on lottery winnings calculator canada Income Tax on winning from Lottery Crossword Puzzles Games shows & Race Horses etc will be taxable under the head “Income from Other Sources”

tax for lottery winnings income tax treatment of lottery prizes This guidance applies specifically Millions game and video