Lottery jackpot records

lottery winner taxes
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The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

higgs domino slot online Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA