An an Indan Citizen, What if you win 1 Billion Lottery grand jackpot

do you have to pay tax if you win the lottery   Dan docp262

Such gains are subject to taxation under the Income from Other Sources heading Taxes that are due must be paid, or else fines and legal

Do I have to pay taxes on my winnings? Yes All prize winnings are subject to federal and state income tax withholding State tax of % is automatically Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another

reiko kobayakawa full movie While winning the lottery is always exciting, it's essential to know that any US federal and state income taxes will still apply If you win the lottery and are Winnings are reported to federal and state tax agencies, and tax rates are based on taxable income What to know if you hit the jackpot: Here