Tallying Up the Taxes on Lottery Winnings - TurboTax

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Lottery ticket sales are not subject to sales or use tax; however, these sales should be included on Sales and Use Tax Return, Form E-500, Line 1, North

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket, North Carolina has a flat tax rate of % on taxable income Because winnings are considered taxable income, that means that to square it up

slot tournaments near me North Carolina will tax your lottery winnings just like all other income at a rate of % The federal government will also tax your lottery Winners are not double-taxed on lottery winnings By law, we are required to withhold 24% federal and % state taxes on prizes at the time a