Do I have to pay taxes every year on lottery winnings?

do you get taxed on the lottery
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You don't pay tax on your lottery winnings, and any money gifted to family and friends is free of tax The only tax you or the gift recipients

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, If you win a US lottery, you would have to file a US tax return and pay taxes on the prize If you hit the jackpot at a casino, a good chunk of

slot demo joker jewels That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and While there is little you can do to avoid this income tax, there are steps you can take to minimize the tax burden Light: Like what? Bell: