Oregon's lottery winner is a billionaire before taxes; how much will

federal tax lottery winnings
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Federal income tax As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over

Lottery winnings are deemed regular taxable income for both federal and state tax purposes Most of the winners go with the immediate,

federal lottery tax The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain

federal lottery The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA If