Ask Axios: How do Ohio Lottery taxes work for Powerball, Mega

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How federal tax brackets work Millions in lottery proceeds easily put the winner in the top federal income tax For 2023, the 37% rate

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

situs slot 2022 If you are not a resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above Consult with your Lisa Greene-Lewis, a certified public accountant and tax expert with TurboTax, said that anytime you have a gambling winning — this includes