How Much Lottery Tax You Need To Pay In India?
How Much Lottery Tax You Need To Pay In India?
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If you win a lottery of a million dollars, 24% would go to pay federal taxes State taxes would depend on which state you live in Some states
In Massachusetts, any lottery prize over $600 is taxed at 5% If someone reports an income over $1 million, that triggers the additional 4% “ Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning
best paying online slot games Yes, lottery winnings are taxable under state and federal law In Pennsylvania, all lottery winnings are subject to the commonwealth's % The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that
