23VAC10-140-282 Withholding on lottery prizes

how much do they tax the lottery
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Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

As a general rule, if you live in one state and win a lottery in another, you are first taxed by the state where you bought the lottery ticket

how long to receive lottery winnings Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes

how to pay taxes on lottery winnings How much of a prize is taken out for taxes? The winnings are subject to federal income tax withholding The tax withholding