Do you pay tax on lottery winnings?

Do you pay tax on lottery winnings? how to share lottery winnings with family without paying taxes
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how lottery works in uk At a glance: Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to

how late can you buy lottery tickets in nc Tip 1: Know Your Limits · Stay Informed: Keep up with the IRS's annual and lifetime gift tax exclusion amounts · Spread the Love Over Time: If After all, winnings in the multi-millions mean winners sharing the news of your winnings with anyone beyond your immediate family