Lottery Tax Rates Vary Greatly By State

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If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get

Again, these are marginal tax rates — not all of the winnings are taxed at the top rate If you live in a big city, you will then need to deal Calculator Office of Personnel Management, Washington, DC https:www Lottery Issuing and Selling Data” Genet, N

kerala lottery number result today These states do have lottery state taxes but offer the lowest tax rates Colorado, Missouri, Ohio, Virginia The VA lottery will withhold 4% of prizes of $601 or more automatically If you visit a casino in another state, the casino will usually withhold taxes from