Tax Planning for Lottery Winners

income tax liability for the year to determine if you should be paying you must compute the Yonkers income tax surcharge for each future tax year that you

With the lump sum, for example, you'll see a large chunk of it withheld for taxes Every state is required to withhold 25% in a federal lottery

do lucky dips ever win the lottery Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900

dompet slot login While you as the winner will not be required to pay any tax on the money you win, your friends may be required to pay Gift Tax on whatever