do you get taxed on the lottery
Betting and lottery tax
do you get taxed on the lottery
website do you get taxed on the lottery Most states charge a tax on lottery winnings The amount initially withheld and how the winnings get taxed depends on your state's tax rate docp017 What about State Taxes? Not only do you have to pay taxes to the federal government on your lottery winnings, you may also need to pay state
do you get taxed on the lottery However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the Most states charge a tax on lottery winnings The amount initially withheld and how the winnings get taxed depends on your state's tax rate Starting in 2021 if you elected to itemize deductions on your federal return and deducted wagering losses from casual
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