Lottery Winnings And Gift Taxes

If you buy a winning Powerball ticket in California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming,

Texas, Washington and Florida all do not have state income tax, so there are no lottery state taxes here either These states will not levy

tax on lottery winnings canada Texas is another state that won't tax your Mega Millions lottery winnings That's good news for the ticketholder who matched five white balls

tax rate on lottery winnings While 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