Taxes on Lottery Winnings by State 2024

what is the taxes on lottery winnings
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The Connecticut Lottery Corporation is required to report Connecticut lottery winnings to the IRS if the amount paid to the winner is $600 or more and at

Yes Lottery winnings are treated the same as money earned from a job When you file your taxes, you'll need to report the lottery winnings as

what percentage of lottery winnings go to taxes The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega

what to do if you win a lottery Yes and no Technically, the answer is no The IRS taxes the money in the exact same manner, whether you take a lump sum payment or not Twenty-