lottery winnings taxes

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If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from

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 Buyers would now have to shell out 28 per cent GST on lotteries Before the GST Council meeting on Friday, the lottery industry pitched for a single rate of 12

tokyo247 Gifts from winnings are subject to IHT If you would like to gift some of your lottery winnings to others but don't want to pay Inheritance Tax The basic tax rate throughout India for lottery winnings is 30 percent The rate is specific for the taxation of lottery winnings The tax