Winner Of $ Billion Lottery Gets $ Million After Tax

what is tax on lottery winnings   Dan what is the lottery about

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and According to Section 194B of the IT Act, 1961, a tax rate of 30% is applicable on lottery winnings exceeding Rs 10,000 This is treated

nagaland lottery sambad 17 tarik Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding