How to Collect Lottery Winnings with LLC or Trust

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

However, large estates, such as those belonging to lottery winners, are often subject to federal estate tax and, where applicable, to state-level estate taxes

ohio lottery midday drawing Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

ohio lottery pick 5 After state and federal taxes, which total 28 percent, the winner will take home about $360,000 As of June 20, the Ohio Lottery has two top