Tax on Lottery Winnings in India Section 194B of IT Act

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The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't So when the winner next files their taxes, they'll likely have to give the IRS another 13% of that prize RELATED: How one lottery-winning

yesterday''s pennsylvania lottery federal tax of 24% There are also additional federal taxes Washington state also requires that 24% of the winnings of a Mega Millions In many instances, the New York State, New York City, and Yonkers tax The lottery prize payment is gambling winnings taxed as ordinary income