Arizona Lottery winner brochure

how much taxes do you pay on lottery winnings   Dan how to win slot games

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

Without other deductions or contributions, a winner could pay a tax rate of up to 37% this year under the top federal income tax rate, which is The annuity option are annual payments typically stretched out over 29 years When you choose this, you end up with more money over the long

ofc poker rules If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes