how much tax would i owe if i won $5000 on a lottery ticket in Ohio?

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how much tax would i owe if i won $5000 on a lottery ticket in Ohio?

2007-05-21 18:25:22 · 4 answers · asked by Anonymous in Games & Recreation ➔ Gambling

4 answers

From the tax code:

(A)(1) The state lottery commission shall deduct and withhold from each lottery prize award payment that exceeds five thousand dollars an amount equal to six per cent of the payment.

2007-05-21 18:33:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋

In Florida they hold 15% $5000 or under. Ohio is probably close to that.

2007-05-25 01:58:28 · answer #2 · answered by paul s 4 · 0⤊ 0⤋

THE STORE WHERE YOU PUCHASE TICKETS SHOULD
BE ABLE TO ANSWER THAT QUESTION

2007-05-23 15:31:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋

zero if you dont tell.

2007-05-22 10:12:24 · answer #4 · answered by WillTurn 1 · 0⤊ 0⤋