How Are Lottery Winnings Taxed by State?

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That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

You pay this tax on the difference between the bets and the prizes, or on the commission you received If you operate gaming machines, you pay betting and How lottery prizes or winnings affect your taxes or potentially unemployment benefits, depends upon your individual financial situation Winning a lottery prize

kiss my chainsaw slot A: Yes, foreign lottery winnings are taxable by the IRS in the US Do remember that if 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