Yes.
Copy database from florida lotto to excel.
15% Like most things the what was done to produce the income is irrelevant....except for Capital Gains on Investments (which many have tried to make lottery winnings and lost in court), all are taxed the same. Winnings are ordinary income. You will pay taxes at whatever rate is determined by your total taxable income, and both Federal & State. If you can itemize, gambling losses are 100% deductible up to the amount of winnings. Don't forget those lotto tickets
I don't believe ther is anything called seperatly earned income...and have no idea what you think it is. Lottery, or gambling, or any of those types of income are considered and taxed as ordinary income.
Taxed as ordinary income and sourced to where earned, (Calif) for state purposes.
In Australia Nothing all tax is prepaid
In the US, yes. Lottery winnings are taxed.
Yes, you have to claim all winnings of any kind (radio, TV, church raffle, lotto, bingo, casino, illegal bookies, online gambling, etc) on your taxes. You have to claim winnings of any size, even if the payor is not required to send you a 1099.
Once you bought them they're yours. You cannot return them. However, if you referring as to having won something with a instant lotto ticket, yes you can return them anywhere they sell them to claim your winnings.
After Matt won the lotto, he invested over half of his winnings in several different electronics companies. The word companies is a noun.
Yes all gambling winnings are reported on the 1040 tax form and added to all other gross worldwide income and taxed at your marginal tax rate.
In general, gambling losses can only be used as deductions to offset gambling winnings. If you report gambling income of $1000, but you had to buy $500 worth of lotto tickets to get that $1000, then you can probably deduct the full $500. If, however, you spent the same amount but only report $300 of winnings, then you could only deduct $300. If you don't report any gambling winnings, you can't deduct anything. Because the consequences of getting this wrong can be substantial, you are strongly encouraged to consult a local tax professional.
The Florida Lotto is a lottery ticket game of chance. Their first jackpot was in 1988, with the total winnings of over $14 million American dollars. Their largest payout was for over $106 million dollars shared by six people in 1990.