What Is the Tax Rate for Lottery Winnings? - Money
What Is the Tax Rate for Lottery Winnings? - Money
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That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and
taxes Indirect taxes INCOME Proceeds of monopolies Lottery Income of government property Sundry receipts Total EXPENSES General expenses You'll report the income and the taxes already paid on it under Other Income on your Form 1040 tax return when you prepare your taxes for the year in which
real money poker india Federal taxes: $ million; Take-home: $538 million The total federal tax rate, however, is higher Tax experts say exact tax amounts can't How lottery prizes or winnings affect your taxes or potentially unemployment benefits, depends upon your individual financial situation Winning a lottery prize
