Tax on winning lottery, puzzle, card game, horse race

lottery win tax
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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,

The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

today kerala lottery live result The lottery tracking group estimated a final Oregon tax rate of % or $ million, reducing the prize to a final payout of $329,792,812  To put the tax difference between installment payments and a lump sum in real numbers, any winner taking installments and receiving $539,900 or