How much tax has to be paid on lottery or game show prize money?

They worry whether or not the award or prize they got would be subject to taxation How about you? There are many variables that affect the rate

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

how to win at mississippi stud That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

how to evolve riolu In US, a net lottery winning is considered an ordinary taxable income by the IRS The IRS directly withholds a part as the rest will depend on