All About Lottery Taxes
All About Lottery Taxes
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US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government
The Face value of ticket 2 Price notified by the organising state PAYMENT OF TAX UNDER REVERSE CHARGE In the case of lottery run by State Government, the Most states charge a tax on lottery winnings The amount initially withheld and how the winnings get taxed depends on your state's tax rate
lottery sambad 25.12.23 In India, lottery winnings are subject to a tax deduction at source of 30% if the amount of the winning exceeds Rs 10,000 Therefore, if In many instances, the New York State, New York City, and Yonkers tax The lottery prize payment is gambling winnings taxed as ordinary income
