Publication 140-W - FAQS: New York State Lottery Winners -

how much is taxed from lottery winnings
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A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of

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 Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable

mega sensa slot In India, lottery winnings are subject to a tax deduction at source of 30% if the amount of the winning exceeds Rs 10,000 Therefore, if How much the winner could owe in taxes Before seeing a penny of the jackpot, the winner will pay a 24% mandatory upfront federal withholding