Florida Lottery Ticket Wins $ Billion, $ Million After Taxes

federal lottery taxes
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On prizes over $5,000, the Oregon Lottery withholds at least 24% for federal taxes and 8% for state taxes before paying the winner Oregon's

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

federal lottery taxes With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

federal lottery tax rate If your prize is over $5,000, the IRS requires the payor to withhold 28% for federal taxes In addition to federal tax on lottery winnings, your