New York stAte LotterY wiNNers whAt Are mY tAx respoNsibiLities For

So in total, the winner will pay 37% in federal taxes, said Missouri Lottery Lawyer Kurt Panouses, who specializes in helping lottery winners

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

taxes paid on lottery winnings Section 194B of the Income Tax Act requires 30% TDS on lottery & game show winnings over Rs 10000, with an effective tax rate of %,

tax for lottery winnings 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