I Won the Lottery! How Bad Are Taxes Going to Be?
I Won the Lottery! How Bad Are Taxes Going to Be?
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what percentage of lottery winnings go to taxes
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The General Tax Rate The basic tax rate throughout India for lottery winnings is 30 percent The rate is specific for the taxation of lottery
Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax The tax is usually deducted at source by the lottery distributor before you receive the payout 2 Can lottery winnings be legally shared
surga 5000 slot 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 Winnings from such game shows and lotteries come under “Income from Other Sources” in your tax returns While you have to let go % of your