If you win the lottery do you pay taxes on winnings every year after?
If you win the lottery do you pay taxes on winnings every year after?
Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%
income for the year of change on your federal income tax return must be included in The lottery prize payment is gambling winnings taxed as ordinary income
federal taxes on lottery winnings Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't
federal lottery taxes The IRS withholds 25% of your winnings immediately, but you'll pay the rest of the federal income tax you owe when your taxes are next due in
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