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I Won the Lottery! How Bad Are Taxes Going to Be?

I Won the Lottery! How Bad Are Taxes Going to Be?

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how much is tax on lottery winnings
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Tax on winning the lottery, puzzle, card games, betting, & horse races is % The winner can't claim deductions or expenses on such

A: The Lottery Winnings Tax is only charged on cash prizes Q: Who is charged the Lottery Winnings Tax ? A: All persons who receive more than Yes Gamblinglottery winnings are subject to Michigan individual income tax to the extent that they are included in your adjusted gross income The Michigan

play poker online no download Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

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