23VAC10-140-282 Withholding on lottery prizes

income tax on lottery   Dan income tax on lottery

On the state side, most states treat lottery winnings as income for tax purposes and the tax rates vary by state But the jackpot winner's state taxes could

Under the provision of section 194B of the IT Act, 1961 the TDS rate for any income earned by way of winnings from crossword puzzles, lotteries, This section levies a flat tax rate of 30% in addition to 4% Cess, which comes to % Lets have a look at Income Tax on winnings from

greektown casino poker room Like any other income, lottery winnings are subject to income tax No deductions are available under income tax laws against the lottery income Others don't have a general income tax, but you'll still owe federal taxes A few states have specific rules on taxing lottery winnings: California: Does not