How much do lottery winners pay in taxes?

lottery winning tax
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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

The governing lottery body withholds 24% of the prize automatically, leaving the balance to be paid by the winner, according to Lottery USA  While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

nirmal kerala lottery result today Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and How do I calculate lottery lump sum after taxes? · Check how much the lump sum payout differs from the advertised lottery prize