Here's how much you pay in taxes on a Texas Lottery win
Here's how much you pay in taxes on a Texas Lottery win
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Tax Treatment of Gambling Winnings Other Than State Lottery Winnings For example, if a person purchases ten Connecticut Lottery tickets at $1 apiece
Fourteen states don't levy additional tax on lottery winnings: Alabama, Alaska, California, Delaware, Florida, Hawaii, Nevada, New Hampshire, Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Powerball winner does select
video jackpot slot machine The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the highest bracket In practice, there is a 24 percent Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings In Arizona, for example, after all
