On winning a 1 crore lottery in India, how much taxes do you pay?

Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%

If you have an annuity from the lottery of a state with an income tax, that cash payment, each year, is unearned income sourced from that state

indiana hoosiers lottery The biggest lottery tax cut came in Iowa, which lowered its state income tax rate on its highest earners from % to 6% Most states,

indiana lottery anonymous The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket