How Taxes on Lottery Winnings Work

lottery tax percentage
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The Oregon Lottery withholds an 8% state tax on all prizes of $1,500 and more This means that the Lottery will pay your prize minus the 8% state tax This

Lottery wins are subject to a 30% TDS rate However, the TDS rate increases to % (including surcharge and SGEEA levies a surcharge on lottery winnings The surcharge rate depends on the size of the prize For example, the surcharge rate for a cash

game online slot The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that The Oregon Lottery withholds an 8% state tax on all prizes of $1,500 and more This means that the Lottery will pay your prize minus the 8% state tax This