Powerball Jackpot Winner Will Get a Hefty Tax Bill

winnings If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You

TDS Rate: The TDS rate for lottery winnings is 30% us 194B of the winning amount For game show winnings,

taxes on lottery winnings calculator canada That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact

taxes paid on lottery winnings No, there is a flat tax of % applied to winners They are not subject to the individual's tax slab rate 3 When will prizes no longer be