Income tax.
yes because it is a winning
taxes on lottery winning of 800,000 in the state of WA
Washington State does not have a personal income tax, so you will not pay any state income tax. You will still pay Federal income tax on lottery winnings, though.
your lumps sum lottery winning are subjected to upwards of 40 percent lottery windfall tax then again at the end of the year for earned income
7%
You don't in Canada
75
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.
California does not tax have a state income tax on lottery winnings. The federal withholding rate amount is 25 % to be withheld from the winnings amount.
no
Lottery winnings will NOT count as a part of your earned income for the earnings test amount because the winning amount from the lottery is NOT earned income. Yes the amount of the lottery winnings will affect how much of your social security benefits will become taxable income on your 1040 income tax return. Depending on the total amount of all of your other gross income including the lottery winnings from 50 % to 85 % of your SSB can become taxable income on your federal income tax return at your marginal tax rate.
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.