Are gamblinglottery winnings subject to Michigan individual income

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

The winnings are subject to federal income tax withholding The tax withholding rate is 24% for lottery winnings, less the

lottery live lottery result First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional

lottery result christmas bumper 2024 How federal tax brackets work Millions in lottery proceeds easily put the winner in the top federal income tax bracket — but that doesn't