I've noticed an Ohio store clerk lottery winner of a million dollars, decided to take $50,000 annually for a number of years. After IRS taxes it would be only $34,000 annually. That a 68% tax bite.

So I guess IRS has a certain tax rate for gambling proceeds. Too bad
You could not include it as regular income?

Lotteries are taxed at regular income tax rates, as are all gambling winnings.

Check your math. If the lottery pays $50K/year, and winner nets $34K, that means $16K is withheld for taxes - that's a tax rate of 32%, not 68%.

Is freelotto a real lottery site?

Quote:

---

Originally Posted by Nana78

is freelotto a real lottery site?

---

I have received a letter I won by free lotto. Is it true?