So apparently if you win over $1000 in the Florida lottery

florida lottery taxes
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What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

The prize money is subject to federal taxes Many states also tax lottery winnings, though Florida has no state income tax A Florida law Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

kumpulan situs slot nexus engine Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The