How much would the $ billion Powerball jackpot's tax bill be?

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Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

All winnings from an out-of-state lottery are taxable for New Jersey gross income tax purposes, regardless of the amount Page 2 7 ) Q Will the New The relevant tax that is withheld at source once surcharge and cess are taken into account is % How is Online Gaming Taxed Under the Income

edmonton poker rooms Tax Rate: Winning from lottery is taxable at a special rate of 30% No deduction is allowed Also no benefit of slab rate can be taken  As per Sections 194B and Section 115BB of the IT Act, a tax rate of 30% is charged on lottery winnings of over Rs 10,000 It is deducted by a