These are the best, worst states to win the lottery in
These are the best, worst states to win the lottery in
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Federal Income Tax Federal law requires the New Jersey Lottery to withhold 24 percent from any prize in excess of $5,000 A higher federal withholding rate
Prizes won in Iowa's Lotto America, Lucky for Life, Mega Millions and Powerball When does the Iowa Lottery deduct state and federal tax from a player's prize? For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax law
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