Lottery Tax Calculator: How It Works, What You Owe

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You are then taxed at the appropriate rate based on your income tax bracket It's not quite that straightforward, however… Federal Income Tax

Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, Amount of Taxes All lottery winnings are considered income and as such are taxed according to the applicable Federal, District, state and local laws The

slot empire no deposit bonus On prizes over $5,000, the Oregon Lottery withholds at least 24% for federal taxes and 8% for state taxes before paying the winner Oregon's The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they