The way Lottery Winnings are Taxed in India -

do you get taxed if you win the lottery
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The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes

The winning amount is tagged with 24% of federal taxes followed by 37 % marginal tax rate After you finish draining your winning amount to

door slot mailbox The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require

double jackpot gems slot machine If you win more than $5,000 in the lottery or certain types of gambling, 24% must be withheld for federal tax purposes You'll receive a Form W-