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how much do you pay in taxes on lottery winnings

how much do you pay in taxes on lottery winnings

Gambling Winnings Tax how much do you pay in taxes on lottery winnings No, winnings are taxed at a flat rate of % They are not taxed at the tax slab rate of the individual Q- When will awards be tax-free? how can i scan my lottery ticket While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

how much taxes on lottery You have two choices: lump sum payout or annual payments spread over 30 years In truth, most lottery winners opt for the cash lump sum upfront,

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