$ billion Mega Millions: How is the lottery taxed in CA?

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

Winnings from lottery are flat taxable at the rate of 30% under income tax act, 1961 The basic exemption limit is not available in case of

tax on lottery winnings in india Tax treatment of winnings Winnings received are not taxable as they are windfalls and not considered as an income You do not need to declare

tax on lottery winnings uk 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