How are Lottery Winnings Taxed?

how much lottery after taxes
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The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30% While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

best whitelabel poker software The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn  30% of lottery winnings are subject to income tax · Surcharge equals 15% of the income taxes paid if the amount is greater than one billion, one