Details on Taxes For Lottery Winnings In India

does lottery get taxed
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Lottery sales are already taxed yet they tax your winnings Same way some states make you pay annual property tax for property you were already

You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes · Most tangible The tax withholding rate is 24% for lottery winnings, less the wager, for prizes greater than $5,000 An example of the calculation used to determine whether a

lottery winnings taxable The Pennsylvania Lottery will automatically withhold PA personal income tax on prizes greater than $5,000 claimed after July 12, 2016 Winners of over $600 HM Revenue & Customs doesn't regard lottery winnings as income, so all prizes are tax-free