Winner Of $ Billion Lottery Gets $ Million After Tax

Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or

The reward would be subject to tax according to Section 56 and reported under the title “Income from Other Sources ” The lottery winners are

how to claim national lottery Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

how to learn to play poker How Taxes on Lottery Winnings Work Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be