Paying Tax on Lottery Winnings

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Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024  You can make estimated tax payments if you think you may owe more Like the IRS, most states treat lottery and gambling winnings as income

harmonibet slot If you live in Georgia, your state lottery tax is % After federal and state taxes you'd pocket $268,613,512 If you live in New York File this form to report gambling winnings and any federal income tax withheld on those winnings The requirements for reporting and