Native Floridian here, have questions on the taxes https://www.lotterypost.com/thread/186590 Lottery Post Forum Topic: Native Floridian here, have questions on the taxes en-us Lottery Post RSS Generator Reply #1 https://www.lotterypost.com/thread/186590/1185469 https://www.lotterypost.com/thread/186590/1185469 Mon, 29 Dec 2008 20:32:29 GMT KY Floyd Taxes on lottery winings work exactly the same as taxes on other income. If you win a $100,000 prize you've won $100,000 regardless of how much is withheld for taxes. That means that if you earned 100k from other sources your total income is now 200k. You figure out your deductions, and you owe taxes on the rest. Just as with the taxes your employer withholds, you may owe more or you may get a refund, depending on your individual situation.

]]> KY Floyd Native Floridian here, have questions on the taxes https://www.lotterypost.com/thread/186590 https://www.lotterypost.com/thread/186590 Mon, 29 Dec 2008 16:33:26 GMT arctanx Hi all! This is my first post (although long time lurker). I'm a life long Floridian (currently in Central Florida) and long time lottery player. My biggest win to date is $100 from a scratch off.

I've got a question on the taxes that are paid from the taxable winnings. This question is particularly for Florida, but I'm interested in how it is in different places too. I've never really gotten a clear answer on this. So let's take $100,000 just for an example. The Florida Lottery web page FAQ... [ More ]

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