Taxes on Lottery Winnings: How Much Will You Get

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If you take the lump sum payout of a sizable lottery jackpot, you will likely be pushed into the top tax bracket of 37%

Texas No income tax ; Utah No lottery ; Vermont % ; Virginia % ; Washington No income tax  Question: My husband and I recently won the grand prize from my State's lottery Can you provide some guidance on how we will be taxed on our lotto winnings

crazy coin flip slot Clothing and hygiene products are subject to sales tax in Texas, while most groceries — including bread, milk and eggs — are not taxed More Tax planning: A trust can be used to minimize the tax burden on lottery winnings This can be especially beneficial for large jackpot winners,