The IT department loves it when you win a lottery or when

do you have to pay tax if you win the lottery
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At present, lotteries run by state governments attract 12% GST while those authorised by them and sold outside the state are taxed at 28% The Lotteries (

Do I have to pay taxes on winnings? You must pay taxes on Illinois Lottery prizes Therefore, we strongly suggest players contact a financial planner, tax $600 or more in winnings when the payout is at least 300 times the amount of the per board wager, or · The winnings are subject to federal income tax withholding

11 3 24 lottery result You must pay federal income tax if you win You'll fall into the highest tax bracket in the year you win if you take the jackpot in a lump sum  While you have to let go % of your earnings in case the wins are more than Rs 10,000, the income received after TDS is not taxed again How