what percent of lottery winnings go to taxes
New Jersey Lottery Questions and Answers -
what percent of lottery winnings go to taxes
website what percent of lottery winnings go to taxes That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash what is powerball lottery Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,
what percent of lottery winnings go to taxes Winnings from such game shows and lotteries come under “Income from Other Sources” in your tax returns While you have to let go % of your A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of How lottery prizes or winnings affect your taxes or potentially unemployment benefits, depends upon your individual financial situation Winning a lottery prize
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