Powerball and taxes: What you have to pay if you win the $935 million

Powerball and taxes: What you have to pay if you win the $935 million what is the tax rate for lottery winnings As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30% what was the midday lottery Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,

what was the midday lottery However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30% tax on lottery

what to do if you win the lottery jackpot on their winnings If I won more than $5,000 in the lottery, why was my check for less than that amount? Income tax will automatically be withheld, just as The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made