23VAC10-140-282 Withholding on lottery prizes

federal taxes on lottery winnings
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There will be federal taxes The rate on federal withholding is based on the winner's resident status So you've won a life-changing sum of

Lottery winnings are also subject to taxes in some states, including rates as high as % in New York to as low as % in

federal lottery taxes There will be federal taxes The rate on federal withholding is based on the winner's resident status So you've won a life-changing sum of

federal tax rate for lottery winnings With the annuity payments, the winner would see roughly $23 million annually after deducting federal taxes Depending on their state laws, they