Gambling and Lottery Winnings
If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding
Lottery Tax Calculator: How Your Winnings Are Taxed federal tax for lottery winnings
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The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain
federal tax for lottery winnings That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and
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