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

Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

If you live in Georgia, your state lottery tax is % After federal and state taxes you'd pocket $268,613,512 If you live in New York, get

how are slot machines programmed Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,

how does lottery work Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out