What Is the Tax Rate for Lottery Winnings? - Money

The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on

winning play4 ct lottery play 4 The Michigan Income Tax Act has no provision to subtract your losses on the Michigan individual income tax return You cannot net the winnings and losses for

winnings of oz slot The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on