IP 200938 Connecticut Income Tax Treatment of State Lottery

Questions About Winning FAQs tax for winning lottery The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that taxes on 2 million dollars lottery winnings According to Section 194B of the IT Act, 1961, a tax rate of 30% is applicable on lottery winnings exceeding Rs 10,000 This is treated

taxes for lottery winnings Lottery and Gambling Winnings · Withholding Rate from Gambling Winnings New Jersey Income Tax is withheld at an amount equal to three percent (3