How Taxes on Lottery Winnings Work
Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
The Economics of the Lottery how much does the government tax lottery winnings
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How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22
how likely is it to win the lottery 54A:6-11 provides that New Jersey Lottery winnings from prizes exceeding $10,000 are taxable for New Jersey gross income tax purposes 3 ) Q When did this law