Taxes on Lottery Winnings for US Expats & Nonresident Aliens

federal tax lottery winnings
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When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

lottery prize is not exempt The federal requirements to file information returns and withhold federal income tax from gambling winnings  The same is true at the state level While lottery winnings are subject to state income tax in most states, withholding tax varies from zero (

situs slot daftar langsung dapat bonus For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize In most states, the tax is taken from