What Percentage of Lottery Winnings Would be Withheld in Your
What Percentage of Lottery Winnings Would be Withheld in Your
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lottery prize is not exempt from federal income tax because of a foreign tax treaty The current federal withholding rate for individuals is
Millions in lottery proceeds easily put the winner in the top federal income tax Some states have no income tax or don't tax lottery If a player wins more than $5,000, an additional 24 percent federal withholding tax will be withheld when the prize is claimed What tax information is provided
situs judi slot online resmi federal tax and $500 state tax) and your check or deposit would be $7,100 Exception: If you win a Hot Lotto jackpot, the Lottery will pay the initial 1 Federal taxes will be owed on lottery winnings The amount of federal tax owed will depend on the amount of money won and the winner's tax
