Publication 140-W - FAQS: New York State Lottery Winners -

How much will Mega Millions winner get after taxes? $ billion how much tax is taken from lottery winnings As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30% how many people buy lottery tickets However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the

how does postcode lottery work Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The