What Winners Need to Know About Florida Taxes on Lottery Prizes

And as we've also covered, for wins of $5,000 or more, the Florida Lottery will in most cases withhold 24% of your winnings for federal income tax In other

In the late 1980s when Florida voters approved the Florida Lottery, it was billed as money that would go toward “educational enhancements ” However, what that

florida lottery mobile app Florida , 962 respondents , margin of error plus or minus percent 1995 lottery moneys would solve their state's education's finance problems

florida lottery 3 Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024