Lottery Winnings: How much tax? How much can I give to family?

if you win lottery how much is taxed
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file their taxes at the end of the year, they could owe more or less than the actual amount withheld You may wish to consult a tax advisor if you have further

Yes, lottery winnings are taxable under state and federal law In Pennsylvania, all lottery winnings are subject to the commonwealth's % Still, you'll probably owe more when taxes are due, since the top federal tax rate is 37% So a good first step a lottery winner could take is

lottery sambad 06.10.23 Lottery Winnings FAQs Tags: lottery, winnings, FAQ Q: Are lottery prizes subject to taxation? A: Effective August 13th 2018, lottery winnings are subject While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's