Do you pay tax on lottery winnings?

are lottery winnings taxed
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Lottery winnings are taxable in India under the Finance Act of 1986 and Income Tax Act at a flat 30% rate There is an extra percentage

A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of

area 51 slot Summary Lottery winnings are tax-free at the point of receiving them You could pay savings tax on interest earned or your estate could be subject to

are lottery tickets taxed State lottery winnings must be reported to the IRS by state lottery officials by completing and filing federal Form W-