How much do lottery winners pay in taxes?

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Details on when and how much the winner pays differ by state Then there are 13 states that don't tax a person's lottery winnings, according to

Flat Tax Rate*: Lottery winnings are taxed at a flat rate of 30% under Section 115BB of the Income Tax Act Surcharge and Cess: In addition to How to calculate gambling duty ; 1 Totalisator betting in connection with horse racing, 25% x (Amount of bets received - Winnings paid out

md0083 According to Section 194B of the IT Act, 1961, a tax rate of 30% is applicable on lottery winnings exceeding Rs 10,000 This is treated The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega