Lottery prize money or gambling winnings

lottery payouts
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Your net payout: $56,127,712 After 30 payments: $121,227,360 Annuity Payment Schedule California: No state tax on lottery prizes Your average net per year

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lottery tax Amounts won from a game show or lottery are taxable under Section 56 of the Income Tax Act, 1961 According to Section 194B winnings from lotteries,

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