Tag: Federal and state tax in lottery

Bobby Wilder’s $1 million scratch-off win was halved by taxes. Wins and Losses: Lottery Winner’s $1 Million Joy Dwindles to $427,000 After Taxes Federal and state taxes cut his gains to $427,000. The federal government taxes lottery winners over $5,000 at 24%, whereas Wilder pays 5.25% in North Carolina. Wilder of Raleigh won $10 million…