Win big? Not so fast, says the taxman

are lottery winnings taxed in ontario
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A: Effective August 13th 2018, lottery winnings are subject to taxation Q: What is the rate of tax? A: Ten percent

Lottery winnings are subject to withholding as well as to federal and sometimes state taxes If you win big, plan for the taxes ahead of Some states, such as California, don't tax lottery winnings But for other state lotteries, you'll be taxed at your ordinary income tax rate Most states that

wolf gold slot game Lottery and casino profits are piped directly into the Consolidated Revenue Fund the same as income and sales taxes, and the government relies Prize winnings are not taxable Ticket purchases are not tax deductible Cottage Lottery Licence #: RAF1365302 Please Play Responsibly Ontario Problem