TIR 79-6: Income Taxation Of Gambling Winnings -

what is the tax percentage on lottery winnings
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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,

The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain

what to do when you win the lottery Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

what is the tax percentage on lottery winnings You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes · Most tangible