What is the Tax for Lottery Winnings Prize in Kerala? TDS

why are lottery winnings taxed
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Lottery and Gambling Winnings · 5% for Lottery payouts between $10,001 and $500,000; · 8% for Lottery payouts over $500,000; and · 8% for

Even if an installment winner sells the future income stream to another party, the sales proceeds are considered ordinary income — not capital

why does my lottery ticket say cannot process contact lottery For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series

why is it illegal to mail lottery tickets State lottery winnings must be reported to the IRS by state lottery officials by completing and filing federal Form W-