Lottery jackpot records

what is the lottery tax
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Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery tickets each week choosing ticket numbers according to a system she has Yes and no Technically, the answer is no The IRS taxes the money in the exact same manner, whether you take a lump sum payment or not Twenty-

illinois winning lottery numbers pick 3 and pick 4 A: For residents and resident aliens, percent in federal and state withholding taxes is deducted for every Lottery prize over $5,000 Current federal tax The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on