Do elderly people over 70 years old have to pay tax on lottery

va lottery tax calculator
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The benefit of the basic exemption limit and income tax slab rate is also not applicable to this income The entire amount received will be

Use our Mega Millions Payout and Tax Calculator to calculate both annual and lump-sum payouts after federal and state tax deductions  For any prize over $5,000, the Virginia Lottery automatically withholds 24% for federal taxes and 4% for state taxes Keep in mind those

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