Tuesday, August 16, 2011

If you win the lotto is at least half of it taken out? would the same be applied to someone who earned it?

As I understand it, in the state if Florida, when you receive more than $5000, you must pick it up in Tallahee, the capitol. The IRS is the next step you take and pay right then. If you were to earn it from an employer, he would take out the taxes immediately and give you a tax form (W2) at the end of the year. So either way, the government gets the taxes.

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