Why do we pay taxes on lottery winnings if the money people use to

how do taxes work on lottery winnings
➡️【Mk.com】✅मनोरंजन के लिए और पैसे जीतने के लिए अपने पसंदीदा कैसीनो गेम सीधे अपने कंप्यूटर या मोबाइल फोन पर खेलें। 100% कैसीनो बोनस के साथ अब अपनी जमा राशि दोगुनी करें! ✅ 

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

taxes could further reduce winnings More from Life Changes: Here's How federal tax brackets work Millions in lottery proceeds

how long to get lottery winnings Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the

how towin the lottery A: For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax