what are the taxes on lottery winnings
All About Lottery Taxes
what are the taxes on lottery winnings
website what are the taxes on lottery winnings Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments what happens when u win the lottery You may receive a Form W-2G, Certain Gambling Winnings and have federal income taxes withheld from your prize by the gambling establishment if
what are the taxes on lottery winnings It's very important to pay the necessary taxes on lottery or prize money winnings in order to prevent fines and other legal repercussions Such Montana Code Annotated 2023 TITLE 15 TAXATION CHAPTER 30 INDIVIDUAL INCOME TAX Part 25 Estimated Tax and Withholding Withholding Of Lottery Winnings This form reports the amount of your Lottery winnings and must be filed with your federal income tax return You should also keep a copy for your records
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