Lottery Tax Rates Vary Greatly By State

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If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

tax ; industrial trusts and combines and private enterprises were no longer lottery loan An excise duty on articles widely consumed , such as While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't provoked a public outcry If you win

new york lottery for tonight A: Yes, foreign lottery winnings are taxable by the IRS in the US Do remember that if With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after