How Taxes on Lottery Winnings Work

tax on lottery winnings usa
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The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket

When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

taxes on lottery winnings calculator canada The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket

tax on lottery winnings Contest prizes and winnings from lotteries or gambling are not taxable in Canada, so this type of income does not have to be reported on your