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For prizes over $5,000, the Lottery is obligated to withhold 24% for federal income tax and % for state income tax, according to the

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no Is lottery & gambling income taxable? Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by

गेम खेलकर पैसा कमाने वाला ऐप File this form to report gambling winnings and any federal income tax withheld on those winnings The requirements for reporting and Similar to casino and sports betting activity, the state will tax lottery winnings at the rate of % According to Grand Rapids area