Lottery Tax Rates Vary Greatly By State
Lottery Tax Rates Vary Greatly By State
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If not, it will invite a fine of one percent for every month of delay Most of the lottery winners are unaware about this and it will lead to
Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket, Still, you'll probably owe more when taxes are due since the top federal tax rate is 37% So a good first step a lottery winner could take is to
what is the draft lottery The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Oregon Powerball winner does
