What is the Tax for Lottery Winnings Prize in Kerala? TDS

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Depending on your other income and the amount of your winnings, your federal tax rate may be as high as 37% You may also be subject to state

When you win a trip, you are taxed on its fair market value Depending on the sort of holidays you take, the taxes might be as much as you'd normally spend on How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22

nj winning lottery numbers Federal Tax Withholding: The lottery is required to withhold 24% of your winnings for federal income tax purposes if you win more than $5,000  Yes All winnings from an out-of-state lottery are taxable for New Jersey gross income tax purposes, regardless of the amount