What are gambling and lottery winnings? - FAQ 1377

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Winner of Mega Millions $ billion jackpot claims prize in Florida—a state that does not tax lottery winnings estimated lump sum amount

Lottery and other lotteries, are subject to federal and Minnesota income taxes You must report and pay income tax on all prizes and 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,

thai lottery result today taxes could further reduce winnings More from Life Changes: Here's You calculate taxable income by subtracting the greater of the How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22