Lottery Tax Planning for a Billion Dollar Drawing

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Bettors are typically unsure of their state and federal gambling tax rate and how much they get to keep Our gambling winnings tax calculator at the top of this Use our Mega Millions Payout and Tax Calculator to calculate both annual and lump-sum payouts after federal and state tax deductions

cash wheel slot machine State and federal taxes were wiped from the prize and he walked away with $178,751 Lottery prizes in North Carolina are taxed at a rate of Virginia Lottery prizes are subject to federal and state income taxes For any prize over $5,000, the Virginia Lottery automatically withholds