State lottery: Govt levies 30 pc tax from those winning small prizes

State lottery: Govt levies 30 pc tax from those winning small prizes lottery winning taxes Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, lottery sambad 23 6 23 Winnings from lottery are flat taxable at the rate of 30% under income tax act, 1961 · The basic exemption limit is not available in case of

lottery sambad 23 6 23 If, for example, a lottery winner resides in a high-tax State, barring some nuance in State law, a lottery winner can change his or her domicile to a State that

lottery results pennsylvania lottery See Form 730 , later , for more information Exempt organizations winning bet- tors based on the outcome of a sports event , a contest Your winnings are subject to the Commonwealth's percent state personal income tax and federal taxes, 24 percent The Pennsylvania Lottery automatically