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Lottery Tax Calculator

Lottery Tax Calculator

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lottery winning after taxes
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The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal

As per Section 194B of The Income-tax Act, 1961, if the prize money exceeds ₹10,000, then the winner will get the prize money after the Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

2024 green card lottery winners It's very important to pay the necessary taxes on lottery or prize money winnings in order to prevent fines and other legal repercussions Such Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with

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