What is Tax on Kerala Lottery Prize Money?

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Gambling and lottery winnings and losses · You don't report your gambling income net of expenses, though · Instead, you must report your gambling

Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%  Shareholders, partners, or members in pass-through entities receiving income from gambling or lottery activities are subject to personal income tax on their

reel wild west slot Tax on winning the lottery, puzzle, card games, betting, & horse races is % The winner can't claim deductions or expenses on such 4 How are lottery winnings taxed if received by a non-resident Indian ? For NRIs, lottery winnings are also taxed at a flat rate of 30%