Mega Millions lottery winnings: How much do you make after taxes?

lottery winning tax
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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

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

lottery prediction number Winnings from lotteries or crossword puzzles are subject to Tax Deduction at Source under sections 194B and 194G of the Income Tax Act

lottery sambad dekhte chai Winnings from lotteries or crossword puzzles are subject to Tax Deduction at Source under sections 194B and 194G of the Income Tax Act