Tax on Winning Game Shows and Lotteries
Tax on Winning Game Shows and Lotteries
whats the tax on lottery winnings
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Section 115BB imposes a flat income tax rate of 30% plus cess and surcharge on winnings from offline gambling or betting games
Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no
whats the lottery up to New Yorkers, for example, could see their winnings taxed at up to % or more, depending on where in the state they live Only a few states —
whats the best lottery ticket to buy Section 115BB imposes a flat income tax rate of 30% plus cess and surcharge on winnings from offline gambling or betting games