Florida lottery ticket hits $ billion jackpot, nets $ million

federal lottery tax
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The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require

If a player wins more than $5,000, an additional 24 percent federal withholding tax will be withheld when the prize is claimed What tax information is provided

federal lottery tax Taxes: The IRS requires that you report ALL Lottery winnings The Lottery is required by law to withhold 24% for federal taxes and % for state income

federal taxes on lottery winnings Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery However, since federal law taxes the gain from gambling, Taxpayer Davis may