do i pay tax on lottery winnings
Tax on Lottery Winnings and Game Show Winnings in India
do i pay tax on lottery winnings
website do i pay tax on lottery winnings For example, if you have an interest income of Rs 5 lakhs per year and have won Rs 3 lakhs in prize money from a game show, the tax burden would be computed as docp094 Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900
do i pay tax on lottery winnings All gambling winnings are taxable including, but not limited to, winnings from: Lotteries; Raffles; Horse races; Casinos Before seeing a penny of the jackpot, winners pay a sizable tax Some states have no income tax or don't tax lottery winnings, but others have With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after
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