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how to pay taxes on lottery winnings
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The lottery tax is charged at a rate of 15% of the lottery turnover When is the lottery tax paid? The lottery tax must be

Key Takeaways · You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes  Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

crazy money deluxe slot machine As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the When a lottery prize is claimed by a group, family unit, club or other organization, the multiple winners will be required to file an Internal Revenue