how many percent tax on lottery winning
Lottery Tax Calculator: How It Works, What You Owe
how many percent tax on lottery winning
website how many percent tax on lottery winning Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner how to book visa slot for us After all, the federal income tax rate goes up to 37%, and you can assume that the winner is in the top 37% bracket Well, many hundreds of
how many percent tax on lottery winning A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of Corporations – 7 percent of net income; Trusts and estates If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get
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