Are there any tax implications if one person buys a lottery ticket and

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

Are there any tax implications if one person buys a lottery ticket and Though some states do not have a state lottery tax withholding, they all must withhold 24% in federal tax on prizes as large as this jackpot

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

how do side pots work in poker Lottery winnings in India are subject to a flat 30% tax rate This means that if you won 20 crore, you would have to pay 6 crore as tax,

Before getting your winnings, you'd have to pay a 24% federal tax withholding, which the IRS requires for winnings over $5,000, CNBC explains

how to deal poker texas hold''em Any guesses on how much tax you have to pay? Photo: AFP · Now, the laws also say that tax can be deducted only if such lottery income is greater

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn