Smart tax strategies for lottery winners - Tax Insider

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With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

He reported this payment on his tax return as ordinary income, but he changed his mind several years later and sought a refund of some $305,000, claiming that With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

how to play poker in vegas Gambling winnings, including winnings from the Minnesota State Lottery and other lotteries, are subject to federal and Minnesota income Income tax · Personal Income earned on any of the above amounts is taxable