Lottery Calculator - The TurboTax Blog

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For the 2023 income tax returns, the individual income tax rate for Michigan taxpayers is The first $300 from gambling, bingo, lottery, awards, or prizes

Michigan % Minnesota % Mississippi No lottery Missouri % Montana % Nebraska % Nevada No lottery New Hampshire No Withholding Rate from Gambling Winnings New Jersey Income Tax is withheld at an amount equal to three percent of the payout for both New

when was the first lottery Winning responsibly is all about being informed Federal tax rates are subject to change and there may be an additional tax liability depending on a winner's For any Michigan Lottery prize of greater than $5,000, the Lottery is required to withhold an estimated 24 percent in federal tax and percent in state tax