Gifting lottery winnings to family : rUKPersonalFinance

how to share lottery winnings with family without paying taxes
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How Are Lottery Winnings Taxed? The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket,

For example, Arizona residents pay a 5% tax on lottery winnings, while nonresidents pay 6% Income Tax Withholding Lottery winnings over $5,000 The unidentified man — who bought the winning ticket in Lebanon, Maine, on Jan 13 last year before striking it rich with the $ billion Mega

kerala lottery result karunya kr 650 If a partnership is identified as the lottery winner, you need to consider which if any States impose an income or similar tax on partnership income Depending The representative may be required to pay taxes on the lump sum winnings Additional tax issues may arise out of the disbursements to group