Powerball and taxes: What you have to pay if you win the $935 million

what is the tax rate for lottery winnings
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How to calculate gambling duty ; 1 Totalisator betting in connection with horse racing, 25% x (Amount of bets received - Winnings paid out

If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

what is a raked poker game The tax on lottery winnings, crossword puzzles, card games, etc is a flat rate of 30% After adding the health and education cess of 4%, the

what is the plot of the lottery As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount