Florida Lottery Ticket Wins $ Billion, $ Million After Taxes

lottery tax federal
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lottery prize is not exempt from federal income tax because of a foreign tax treaty The current federal withholding rate for individuals is

After all, the federal income tax rate goes up to 37%, and you can assume that the winner is in the top 37% bracket Well, many hundreds of Yes, lottery winnings are taxable under state and federal law In Pennsylvania, all lottery winnings are subject to the commonwealth's %

bhutan bumper lottery result today The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the