Tallying Up the Taxes on Lottery Winnings - TurboTax

texas lottery taxes
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texas lottery taxes The Texas Lottery Commission withholds taxes on all lottery prizes over $600 as detailed above theLotter Texas takes no commission on lottery prizes   States with no state income tax, like Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax lottery winnings Other states like  Tax planning: A trust can be used to minimize the tax burden on lottery winnings This can be especially beneficial for large jackpot winners,

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