Tax Planning for Lottery Winners

do you get taxed if you win the lottery   Dan docp345

The reason for this is because lottery winnings are taxed as income by the federal government as well as most states So, how much will New

The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require The winning amount is tagged with 24% of federal taxes followed by 37 % marginal tax rate After you finish draining your winning amount to

when is the lottery When you begin selling those investments and making profit, you might have to pay tax The rate you'll pay is either 10% or 20% It's 10% if you are a basic Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free