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Gambling in Oklahoma – What are the tax responsibilities for Texans?

By David C. Gair on February 26, 2013
Posted in Tax Planning, Uncategorized

Hit the jackpot this past weekend in Oklahoma?  Wondering what this means for your taxes?  Are there any ways to reduce the tax hit?

Here are the basics:

How lottery winnings are taxed.

  • First, you should be aware that lottery winnings are taxable for federal tax purposes. This is the case for cash winnings and

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About the Authors

Photo of Joshua SmeltzerJoshua SmeltzerPartner

Joshua Smeltzer is a tax litigator defending clients in tax audits, tax appeals, and litigation in Federal District Court, U.S. Tax Court, the U.S. Court…

Joshua Smeltzer is a tax litigator defending clients in tax audits, tax appeals, and litigation in Federal District Court, U.S. Tax Court, the U.S. Court of Federal Claims, and tax issues in U.S. Bankruptcy Court. Joshua’s previous work as a litigator for the U.S. Department of Justice provides him with first-hand knowledge of how government lawyers build and litigate tax cases. He is Board Certified in Tax Law by the Texas Board of Legal Specialization.

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