I Won the Lottery! How Bad Are Taxes Going to Be?

how much does the government take from lottery winnings
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How much of a prize is taken out for taxes? The winnings are subject to federal income tax withholding The tax withholding

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

how much money do you actually get from the lottery How to calculate gambling duty ; 1 Totalisator betting in connection with horse racing, 25% x (Amount of bets received - Winnings paid out

how does postcode lottery work take a stand on violations of the Lottery Regulation Rules by state government and GST@28% is levied on lottery authorized by state government