Taxes on Lottery Winnings Explained

do you pay tax on a lottery win
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California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders However, this doesn't mean

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

does 711 sell lottery tickets 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

download slot game mega888 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