Won a lottery or prize money in India? Here's what you need to know

Won a lottery or prize money in India? Here's what you need to know how much tax is on lottery winnings You'll also likely find yourself in the top federal tax bracket of 37% (remember, these rates are progressive, so you won't actually lose 37% of how many poker chips per person If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an

how many poker chips per person Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

how to play ohio lottery online Your winnings are considered taxable and are added to your ordinary income when taxes are calculated If your earnings are big enough, they can 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