Do you need to pay tax on lottery winnings?
Do you need to pay tax on lottery winnings?
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tax withholding and the winner likely will owe millions more The chances of winning Powerball's grand prize are 1 in about 292 million
If you live in Ohio, your state tax rate for lottery winnings is % So after federal and state taxes, that leaves you with $277,906,812 The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in
poker juegos de cartas How Much Are Lottery Winnings Taxed? · 24% withheld from $930 million = $232,200,000 · Additional amount you need to pay with a 37% tax rate: $111,900,000 · Total You are taxed on anything you win, whether it's cash, an item, a trip, or a service Winnings are subject to federal and state income taxes Most tangible
