Learn about gambling and the lottery in Massachusetts -

does the lottery get taxed
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A: No The tax will be deducted from your winnings and paid by the National Lotteries Board to the Board of Inland Revenue Q: Who

As per Section 115BB of The Income Tax Act, 1961, the government would levy tax on winnings from lotteries, crossword puzzles, races including However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the

lottery winner nc The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes Yes Gamblinglottery winnings are subject to Michigan individual income tax to the extent that they are included in your adjusted gross income The Michigan