Connecticut Income Tax Treatment of State Lottery Winnings -

income from lottery
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The connection between lottery play and income is unfortunate because the purchase of lottery tickets by the poor can be considered a type

So after subtracting the cost of your ticket, you will owe federal income taxes on what remains How much exactly depends on your tax bracket,

income from lottery The organiser deducts this from the prize money If you operate gaming machines, you pay betting and lottery tax on the gross proceeds from your machines

income tax on lottery winnings in india As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount