Won a lottery or prize money in India? Here's what you need to know

There are federal and state US taxes payable on larger US lottery winnings The federal tax rate that is paid as a non-resident winner is 30% on payouts above

If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You must declare

ares slot You may receive a Form W-2G, Certain Gambling Winnings and have federal income taxes withheld from your prize by the gambling establishment if

are slot machines programmed HM Revenue & Customs doesn't regard lottery winnings as income, so all prizes are tax-free