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States with no state income tax, like Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax lottery winnings Other states like
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The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes
does lottery winnings affect social security As a senior citizen, you may be eligible to claim a refundable credit on your personal state income tax return The Circuit Breaker tax credit is based on the