What is the tax rate on the $1 billion Powerball jackpot?

how much tax is taken out of lottery winnings
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This section levies a flat tax rate of 30% in addition to 4% Cess, which comes to % Lets have a look at Income Tax on winnings from

We do not tax California Lottery or Mega millions Visit Gambling losses are deducted from the winnings as an itemized deduction

how old you have to be to buy a lottery ticket The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made

how to start a lottery Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or