Lottery Tax Calculator

va lottery tax calculator
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A Lottery prizes subject to taxation Any lottery prize of $600 or more shall be subject to Virginia income tax To the extent included in federal adjusted

Powerball Jackpot Analysis ; Virginia: 4% state tax withheld: - $72,000 · Add'l state taxes due : For any prize over $5,000, the Virginia Lottery automatically withholds 24% for federal taxes and 4% for state taxes Keep in mind those

va lottery lucky pick 3 Virginia sales tax details The Virginia state sales tax rate is currently % Depending on local municipalities, the total tax rate can be as high as 7 The benefit of the basic exemption limit and income tax slab rate is also not applicable to this income The entire amount received will be