Winning the Lottery: Dream or Nightmare?

what are the taxes on lottery winnings
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The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab

Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

pangkalantoto slot A: Effective August 13th 2018, lottery winnings are subject to taxation Q: What is the rate of tax? A: Ten percent  No, winnings are taxed at a flat rate of % They are not taxed at the tax slab rate of the individual Q- When will awards be tax-free?