Are gamblinglottery winnings subject to Michigan individual income

how much of lottery winnings is taxed
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How to report gambling income All gambling winnings are taxable including, but not limited to, winnings from lotteries, raffles,

Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

anna lottery download apk The same is true at the state level While lottery winnings are subject to state income tax in most states, withholding tax varies from zero ( Lottery winnings are not taxed twice Under both the federal and state tax system, they are considered ordinary taxable income You pay tax on your winnings