Betting and lottery tax

how do lottery taxes work
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Most states tax lottery winnings as well; depending on where you live your total tax bill could be as high as 50% of the prize, based on your other income In

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

how to become professional poker player 8% for Lottery payouts over $10,000, if the claimant does not provide a valid Taxpayer Identification Number New Jersey Income Tax withholding

how to play poker card Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to