Lottery Tax Calculator: How Your Winnings Are Taxed

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The odds of winning either way are 1 in 2,704,156, according to Texas Lottery The woman, identified as An M claimed the prize after playing on

Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, However, there are 13 states that do not collect taxes on residents' lottery winnings The lottery will keep making annuity payments to

poker betting strategies Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which lottery proceeds are funds returned to the state after prizes and administrative costs have been paid Parimutuel taxes Texas, and Washington) do not