Lottery Winnings

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How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on

Lottery winnings are considered taxable income for federal tax purposes and your winnings are taxed the same as your wages or salary Most prize winners pay a Prizes that are given in a competition or contest are not taxable gambling or lottery winnings if no advantage or inequality in amount or value is offered or

can an llc claim lottery winnings in florida How are Lottery winnings taxed? All Lottery prizes, regardless of the You may wish to consult a tax advisor if you have further questions LINK The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made