Winner Of $ Billion Lottery Gets $ Million After Tax

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If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

Is the lottery just a tax on poorstupid people? Upvote 165 Downvote So what percentage of lottery winnings actually goes to the school Before you even receive any of your lottery winnings the IRS will take 24% in taxes

quick hit super wheel slot machine But for other state lotteries, you'll be taxed at your ordinary income tax rate In partnership with Kansas Crossing Casino and Hotel See The size of your prize indicates the tax rate your winnings will be subject to Lottery winnings up to $ are tax-free Anything above this amount is taxed