A Practical Discussion on Advising the Lottery Winner

does florida tax lottery winnings
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Lottery prizes in North Carolina are taxed at a rate of % on the state level Jackpots over $5,000 are taxed at 24% by the federal

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

does walmart sell lottery tickets Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

does circle k sell lottery tickets You may also be on the hook for state taxes Depending on where you bought your ticket, some states, like Florida, have no lottery income tax