Winning the Lottery: Dream or Nightmare?

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In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA

golden bhavishya lottery Who must pay Maryland income taxes on their winnings? Anyone who receives winnings from lottery games, racetrack betting or gambling must pay income tax on Residents and Nonresidents: The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from payments of reportable Connecticut