Tax on Winning Game Shows and Lotteries

is the lottery tax free
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Lottery winnings are not taxed twice Under both the federal and state tax system, they are considered ordinary taxable income You pay tax on your winnings

But IRS tax rates don't stop at 24% In fact, the federal marginal rate is as high as 37%, depending on the winner's taxable income The winner

is there a way to predict lottery numbers Prizes that are given in a competition or contest are not taxable gambling or lottery winnings if no advantage or inequality in amount or value is offered or

is online poker legal in canada Prizes and winnings are always taxable once they are in the winner's possession The reward would be subject to tax according to Section 56 and