Are gamblinglottery winnings subject to Michigan individual income

tax in lottery winnings
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Tonda Lynn and her relatives found this out when the IRS, backed up by the Tax Court, ruled that there had been no binding contract to share the lottery

Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or You'll need to pay taxes on lottery winnings whether you hit the jackpot or won a few hundred dollars Here's how it works and how to lower

winners on postcode lottery The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also Do you need to pay tax on lottery winnings? Good question If you're wondering if you have to pay tax on lottery winnings then guess what, you