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Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
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If you win the lottery, what percentage do you pay in income tax

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Submitted: 9 years ago.
Category: Tax
Expert:  Bill replied 9 years ago.
It will depend on the amount of the winnings, your other income, filing status, dependents, and deductions. The tax brackets range from 10% - 35%. Once taxable income exceeds $357,700 ($178,850 if married filing separately) then lottery winnings are taxed at 35%.

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