I Won the Lottery! How Bad Are Taxes Going to Be?

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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

If not, it will invite a fine of one percent for every month of delay Most of the lottery winners are unaware about this and it will lead to Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

18av網站 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 Levying a 30 percent tax on small prizes would drastically affect the lottery in the State The lottery scheme is already undergoing a severe