What is the tax rate on the $1 billion Powerball jackpot?

does virginia tax lottery winnings
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Pursuant to IRC § 61, gross income includes all income from whatever source derived, including gambling winnings For a taxpayer that does

The Lottery Department shall file Virginia state income tax withholding returns in accordance with § of the Code of Virginia The Lottery

does lottery get taxed The lottery winnings are taxable income in the state where you bought the ticket The taxes you pay to that state on the winnings are eligible

does stopping a slot machine change the outcome How Do I Avoid Inheritance Tax on Lottery Winnings? In most states, you will not be required to pay inheritance taxes on inherited lottery winnings or any