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First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional
What is the Tax for Lottery Winnings Prize in Kerala? TDS how much of the lottery is taxed
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Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of
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