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While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

Tax on winning the lottery, puzzle, card games, betting, & horse races is % The winner can't claim deductions or expenses on such Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free

casinò slot The withholding rate for federal income tax is based, in part, on a claimant's resident status The Lottery is required to withhold federal taxes of 24% for Lottery winnings are taxed as ordinary income by the Internal Revenue Service and most states Large winnings will thus be taxed at the highest income tax