How are Lottery Winnings Taxed?

is there tax on lottery tickets
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Let's say you buy a ticket in a state that doesn't tax lottery prizes, or has a lower tax rate than your home state You'll still pay taxes

In the case of winnings from horse races, income is taxable at % without any exemption limit · There would be no deduction of any The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

slot machine games free online Proceeds of lottery prizes shall be subject to Kentucky state income tax days (for lottery games commenced or tickets printed or reprinted before  Such income is generally taxed at a flat rate of 30% Nonresident aliens generally cannot deduct gambling losses The only exception is Canadian