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If I am 69 years old and disabled do I have to pay taxes on the money I won from the Florida lottery?
Wiki User
∙ 6y ago
Not it it's less then 600.00
Wiki User
∙ 6y ago
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What is the taxes on the Florida lottery?
In Florida, lottery winnings are subject to a 24% federal withholding tax for U.S. citizens and resident aliens for prizes above $5,000. Additionally, there may be state taxes on lottery winnings depending on the amount won and the winner's personal tax situation.
If you win lottery in Canada and do not put any in the bank are you still text on it?
If you win the lottery in Canada and don't put the money in the bank, taxes will still need to be paid on the money.
Do disabled veterans in New Jersey pay taxes if they win the lottery?
No. Your lottery winnings will be reported on your 1040 federal income tax return and the taxable amount will be subject to the income tax at your marginal tax rate.
How much money is taken out of your paycheck for taxes if you are married in Florida?
31% for taxes and 2% for your pension/401k
Are there any bad sides to winning the lottery?
Taxes and family and friends asking for money then getting angry when they don't get any.
How does the state of South Dakota make money?
The State of South Dakota makes money through business taxes, property taxes, motor vehicle titles and licensing, special taxes on things like ore, alcohol and tobacco, the state gaming commission, and the lottery.
What are two Powers the US and Florida governments share?
Borrow money and levy taxes
What are the taxes on 800000 dollars?
What are the taxes on an 800,000 lottery win in the state of MS
What does the government do with the taxes from lottery winnings?
Taxes on lottery (or gambing, etc) winnings are the same as any other ordinary income in both amount and use.
Do they take any other money out of the total lottery winnings besides taxes?
in michigan you have to pay city state and federal taxes it is taken out of your paymentif you dont have city taxes taken out of your check you must report it to the city if there is a city tax
Does a veteran have to pay taxes on $50,000 lottery winings?
If you don't want to be sued for tax evasion, even as a veteran, you would have to pay taxes on $50,000 in lottery winnings.
If you win a lottery, is it better to take a lump sum of cash or take your money in installment monthly payments?
If you take it in a lump sum of cash, you will lose money because they take more taxes out of it.
