New Jersey Lottery Questions and Answers -

lottery prize tax
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lottery prize tax Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,  Q: Are lottery prizes subject to taxation? A: Effective August 13th 2018, lottery winnings are subject to taxation ; Q: What is the rate of tax? A: Ten percent  Alappuzha: The state government's decision to levy tax on those who win small lottery prizes above Rs 10000 multiple times a financial year

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