What is taken out of lottery winnings: taxes & any debts you owe to

What is taken out of lottery winnings: taxes & any debts you owe to nc lottery tax Operators collected $63 million in gross wagering revenue, according to the North Carolina State Lottery Commission That figure is taxed at nc education lottery promo code Yet the top marginal tax rate of 37 percent means you'd owe a lot more at tax time And state taxes typically are due as well The big impact

nc education lottery promo code That's because lottery winnings—all lottery winnings, including these unique vaccine lotteries—are generally taxed as ordinary income at the

nc lottery nc lottery Lottery winnings of $600 or less are not reported to the IRS; winnings in excess of $5,000 are subject to a 25 percent federal withholding Still, you'll probably owe more when taxes are due since the top federal tax rate is 37% So a good first step a lottery winner could take is to