do you pay taxes twice on lottery winnings
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do you pay taxes twice on lottery winnings
website do you pay taxes twice on lottery winnings No If you take the lump sum, you pay federal and state income tax on it for the year in which you won In dot slot No If you take the lump sum, you pay federal and state income tax on it for the year in which you won In
do you pay taxes twice on lottery winnings Bruce Bell: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps If you take it in installments, it's taxed annually I never understood why people take lottery winnings in installments The compounding Taxation is imposed upon all income sources You may think that lottery winning would not be considered as an income source, but it is counted
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