Florida Mega Millions ticket scoops $ jackpot, tax bite looms

taxes on lottery winnings florida
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In accordance with section 4009 of the Agricultural Act of 2014, households in which members receive substantial lottery and gambling winnings

And as we've also covered, for wins of $5,000 or more, the Florida Lottery will in most cases withhold 24% of your winnings for federal income tax In other States with no state income tax, like Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax lottery winnings Other states like

kaise lottery Generally, lottery winnings are treated as an annuity for estate tax The valuation of the annuity is made using the interest rates Having a winning ticket from a state that won't tax your lottery winnings will allow you to avoid state taxes on