Taxes on Lottery Winnings by State 2024

does winning the lottery count as income
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In the US, at least, lottery winnings are taxed as ordinary income No difference! That being said, I suspect you misunderstand the conversion

All prize winnings are subject to federal and state income tax withholding State tax of % is automatically taken out for payouts $2,000 or more Payouts

does lottery money get taxed The fact that state lottery winnings may not have been required to be reported to the IRS does not excuse a winner who

does kroger sell lottery tickets Millions in lottery proceeds easily put the winner in the top federal income tax bracket — but that doesn't mean they'll pay 37% on the entire