Tax Tips for Lottery Winners

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

Most states tax lottery winnings as well; depending on where you live your total tax bill could be as high as 50% of the prize, based on your other income In

how does postcode lottery work 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

how to play poker beginners In the United States, the taxation of lottery winnings varies from state to state While some states impose taxes on lottery winnings, others do not This