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2. How Are Lottery Winnings Taxed in Your State? - AOL

   www.aol.com/lifestyle/lottery-winnings-taxed...

   The tax rate on lottery winnings varies by state. Lottery and State Taxes We've discussed what portion of your lottery winnings will go to taxes at the federal level, but how much are lottery ...

3. Are Gifts, Prize Winnings and Non-Cash Bonuses Taxable? - AOL

   www.aol.com/gifts-prize-winnings-non-cash...

   As you gather your receipts and proof of income for Tax Day (April 18 in 2023) you may be forgetting one important detail: If you had any lottery or giveaway wins or non-cash bonuses from your...

4. I Won the Lottery! How Bad Are Taxes Going to Be? - AOL

   www.aol.com/finance/won-lottery-hefty-taxes...

   Before you see a dollar of lottery winnings, the IRS will take 25%. Up to an additional 13% could be withheld in state and local taxes, depending on where you live. Still, you'll probably owe more ...

5. Lottery jackpot records - Wikipedia

   en.wikipedia.org/wiki/Lottery_jackpot_records

   All lottery winnings are subject to Federal taxation (automatically reported to the Internal Revenue Service if the win is at least $600); many smaller jurisdictions also levy taxes. The IRS requires a minimum withholding of 24% of the prize (minus the wager) of any gambling win in excess of $5,000.

6. Longing for the $1.1B Mega Millions jackpot? What taxes ... - AOL

   www.aol.com/news/longing-1-1b-mega-millions...

   State and federal taxes can take out a big chunk of a lottery jackpot win. Longing for the $1.1B Mega Millions jackpot? What taxes would cost a Pennsylvania winner

7. Pennsylvania Lottery - Wikipedia

   en.wikipedia.org/wiki/Pennsylvania_Lottery

   The Lottery then reports all winnings to the IRS. For federal income tax purposes, any lottery winnings over $2,500 in a fiscal year are taxable. However, when the winning amount is greater than $5,000, the Pennsylvania Department of Revenue withholds the proper amount of federal income tax before a check is mailed to the claimant. Pennsylvania ...

8. How much would a $1.25 billion lottery winner actually take ...

   www.aol.com/news/much-1-25-billion-lottery...

   All lottery winnings are taxable income. ... the winner will pay 37% in federal taxes, said Missouri Lottery Lawyer ... “You need about 2-3 weeks to put a good plan together before you claim the ...

9. Income tax on gambling - Wikipedia

   en.wikipedia.org/wiki/Income_tax_on_gambling

   [4] The Tax Court held that the taxpayer's gambling was a business activity and allowed the deductions. In essence, the court held that Section 165(d) only applies when a taxpayer is at a loss instead of a net gain and “serves to prevent the [taxpayer] from using that loss to offset other income.”