Gambling Personal income types - Franchise Tax Board -

tax rate for lottery winnings
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Lottery winnings are taxable Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37%

As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to Gambling and lottery winnings is a separate class of income under Pennsylvania personal income tax law tax rate in effect at the time the prize payment is

kr 648 lottery result The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of 5% from all payments of reportable Connecticut lottery winnings made to However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the