Renee B asked:


The casino is in Oklahoma. I was just wondering if Kansas people who win the lottery down in Oklahoma will have to pay taxes on it if it reaches a certain dollar amount?

Estell

Terry asked:


Suppose you played the lottery in another state and won the jackpot. Do you have to pay state taxes for both the state you won in and the one your living in?

Scot

Les asked:


How are you taxed when you win the lottery?
I know 28% must be withheld from your winnings for federal income tax purposes, but are you also subject to an additional 39% for being in the millionaire tax bracket? The way I understand it is that the 28% counts towards you 39% tax bracket so you would only need to pay an additional 11%…. Someone explain please.
@tro Can you go into more depth? What am I looking at here a 39% tax for the year or a 67% tax?

Lance

funforeverrr asked:


Just wondering how state lottery pays people who win the jackpot? Do they give them the checks upon receiving the winning ticket?

Elvera

anonymous asked:


I am an 18 year old student. My aunt bought a winning ticked for the florida Play-4 lottery, $800.00. She asked me to use my information to cash in the ticket. When I did, i received a W2-G form, and it said total income $800.00 with no taxes taken out of it. How will this affect when I file for my regular income tax next month? Thank you in advance.

Kathi

indrep33 asked:


And if you have won the lottery, do you get back more or less money?

Kien-Nghiep

Chef Billiardini asked:


Ok, I just won $888 dollars on the New York lotto “Straight Eights” scratchoff game. I am wondering about how much to expect be taken out in taxes. Also, I am wondering if I’m better off giving them my social security # and claiming the taxes on income tax or just having them take the taxes out right there.

Anabella

lightning_thunderwolf asked:


Would it be best to take a lump sum payment or take it over a long term for a lotto player that is in his 30s?

Cassey