23VAC10-140-282 Withholding on lottery prizes

how much taxes do you pay on lottery winnings
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Yes Gamblinglottery winnings are subject to Michigan individual income tax to the extent that they are included in your adjusted gross income The Michigan

Income tax is withheld at a flat 24% rate from certain kinds of gambling winnings are: More than $5,000 from sweepstakes, wagering pools, For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series

what is a lottery protected pick On winnings from wagering on the results of the lottery, Lottoland does not levy taxes However, all prize winners are mandated by law for For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series