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

how to pay taxes on lottery winnings
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How are Lottery winnings taxed? All Lottery prizes, regardless of the amount, generally are considered as income by the state and federal government For

The Internal Revenue Service requires you to pay taxes on any lottery winnings that exceed $5,000 You may also be subject to state taxes,

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how to play poker lotto michigan Here's the truth with gambling taxes: both cash and noncash gambling winnings are fully taxable What are cash winnings? Cash winnings include money you