Taxes on Lottery & Gambling Winnings: What You Need to Know

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While lottery winnings are subject to state income tax in most states, withholding tax Michigan % Minnesota % Mississippi No

lottery jackpot ever won Before the big win on New Year's, the jackpot had been growing since mid-October The chance of winning the Gamblers know that all winnings are taxable However, most people do not report their winnings unless he or she wins more than $1,200 $1,200 is the threshold

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