Do you need to pay tax on lottery winnings?

While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

No, winnings are taxed at a flat rate of % They are not taxed at the tax slab rate of the individual Q- When will awards be tax-free?

if you win the lottery California does not tax lottery winnings If individuals win the lottery in California, they are not required to pay state taxes on their winnings However,

if i buy 100 lottery tickets what are my odds When you have winnings from gaming or lotteries, etc , you may have to state these in your tax return This applies to winnings that are taxable, or if you