What is Tax on Kerala Lottery Prize Money?

taxes paid on lottery winnings
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Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

The payer will deduct 24% from your winnings on the spot if you win above a certain amount · You'll report your winnings and your tax payments when you file

taxes on lottery winnings canada Answer: Lottery payments are subject to tax as ordinary income While there is little you can do to avoid this income tax, there are steps you can take to

taxes on 1 million dollars lottery winnings US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government