How are Lottery Winnings Taxed?

how much taxes on lottery
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Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

how to play postcode lottery uk According to estimates from , the winner of the publicized $ billion Powerball jackpot would earn $329,792,812, if they take the

how does the post code lottery work Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The