How are Lottery winnings taxed?

How are Lottery winnings taxed? how is lottery winnings taxed The current TDS rate on such winnings is 30%, with the total tax liability, including surcharge and cess, amounting to % Winning award how to do poker face Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

how to do poker face What are the lump sum lottery winnings after taxes? The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the

how do you know if you won the lottery Proceeds of lottery prizes shall be subject to Kentucky state income tax A holder of a winning cash ticket from a Kentucky lottery game shall claim a  However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the