Betting and lottery tax

lottery winning taxes
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winning Powerball in 2008 The jackpot total, above, reflects pre-tax annual payments, not the lump-sum the Rosenaus received Photo: Andy

Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30% Ask for a detailed break out of all taxes at each step including federal, state and local income tax as well as estate tax

slot machine joker In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal The winner of the $ billion jackpot has hefty taxes coming IRS withholding takes $187992000 up front, and $101829000 more is due April