The IT department loves it when you win a lottery or when

how much tax is paid on lottery winnings
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As per the Income Tax rules, money won in a lottery or any competition is taxable You will have to pay a flat 30 per cent of the winning amount

The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made How much tax does the IRS take from lottery winnings? The IRS automatically withholds 30% of net lottery winnings in the US The rate at which

top online slot machines When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay