Section 194B of Income Tax Act

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Currently the two highest income brackets are taxed at 37% for incomes over $578,125 and 35% for incomes over $231,250 The governing lottery

Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

lottery sambad night result lottery sambad If you win more than $5,000, you will also be taxed federally When winnings include items that are non-cash prizes , the items will be New Jersey is among the highest state tax rates ultimately taking % of the prize The winnings after taxes According to Lottery Post,