Tax on Winning Game Shows & Lotteries

do you pay tax on a lottery win
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Not only do you have to pay taxes to the federal government on your lottery winnings, you may also need to pay state income taxes as well

Lottery winnings in India are subject to a flat 30% tax rate This means that if you won 20 crore, you would have to pay 6 crore as tax, A: The Lottery Winnings Tax is only charged on cash prizes Q: Who is Q: Do I have to declare my winnings on my Income Tax Return? A: No e-Tax e

situs slot server thailand 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, Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free