If I won a lottery of 20 crore, how much will I get after tax deduction

website how much taxes do you pay on lottery winnings A: The Lottery Winnings Tax is only charged on cash prizes Q: Who is Q: Do I have to pay the tax to the Board of Inland Revenue? A: No The tax how to stay safe after winning the lottery Most states tax all income earned in their state, regardless of your residency Your resident state will also require you to report the winnings but will offer

how much taxes do you pay on lottery winnings Most states charge a tax on lottery winnings, but a few — including California, Delaware, Florida, Texas and Tennessee — do not Additionally,  How much do I pay in taxes if I win 1,000,000? If your gross prize for lump sum payout is $1,000,000, you need to pay $334,072 in total tax ($240,000 federal  Lottery prizes get taxed under the same rules as regular income tax Whatever prize money you receive during the year is added to your taxable

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