taxes from lottery winnings
Smart tax strategies for lottery winners - Tax Insider
taxes from lottery winnings
taxes from lottery winnings
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taxes from lottery winnings Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %, 2 Federal Tax Withholding: The lottery is required to withhold 24% of your winnings for federal income tax purposes if you win more than $5,000 If friends or family members contributed to your lottery ticket purchases, you can establish a partnership arrangement as the lottery winners
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