What a lottery winner in West Virginia would actually get
What a lottery winner in West Virginia would actually get
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If you win over $5,000 from a Powerball or Mega Millions jackpot, or any lottery game, state lotteries are required to withhold 24% in federal
Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37% You're required to report all of your gambling winnings as income on your tax return, even if you end up losing money overall · You may receive
will there be third lottery for h1b 2024 Automatic withholding of state income tax refunds or lottery winnings; DMV vehicle registration withholding; Tax liens Quick Links · Frequently Asked Questions Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
