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It is income here, to be paid at whatever your particularl rate (by other income, deductions, exemptions, State tax, etc.) may be. If you have to pay a tax to a foreign country, you will get some or all credit for that toward tax due here.
Wiki User
∙ 16y ago
Wiki User
∙ 12y agoIt's tax free! So the couple who won £161 million got to take exactly that home! It's always best to check your results straight after the draw at http://www.euro-millions.com/results.asp just to double check and be sure!
Wiki User
∙ 13y agoYou can win anything from 6 pounds all the way up to 110 million pounds - it all depends on how many numbers and lucky stars you can match up.
Wiki User
∙ 13y agowhat is the tax on lottery winnings
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How much was the largest Euromillion lottery win in 2012?
In 2012, a single player from Suffolk in the United Kingdom claimed a 190,000,000 euro win in the Euromillions lottery. When converted to pounds, the prize was equivalent to 148,656,000 pounds.
How much do you win on euro millions for 1 number and 2 lucky stars?
Hello there! There is actually no prize money for matching the lucky star number in Euromillions lottery on its own. The second prize tier on Euromillions is winnable by matching 2 main numbers + 1 lucky star - which is about 4.5 Euros in prize money. However, keep in mind that this is no the lowest prize tier on Euromillions. You can always win the Euromillions lottery by matching only 2 main numbers in a range from 1 to 50. Good luck with playing the Euromillions lottery.
Can a Canadian win euromillions without buying a ticket in Europe?
Yes, anyone who buys a ticket from pretty much anywhere can win the Euromillions.
What is the tax on 150 million lottery winner?
In the UK there is no tax on lottery winnings, if you win £750.00 you get to spend all of it.
Do people win the lottery a lot?
People win the lottery constantly, each week for instance there are over 1,000,000 winners in the Euromillions. What isn't so common is people winning the Jackpot, this tends to happen every few draws and varies from lottery to lottery. What is absolutely true is that there is no other form of gambling that can take a £2 stake and turn i into £161,000,000, no matter how slim the chance.
What is the highest number you can use in the Mega Million lottery game?
According to research sites, the numbers all win pretty much the same amount of times, which is exactly how the game is designed to work.
What percentage of tax do you have to pay on a large lottery win in India?
75
How much will you get if you win the lottery?
it depends
How much taxes are taken if you win a 34 million dollar lottery in Illinois?
Lottery winnings in Illinois are subject to a state income tax rate of 4.95%, and federal tax can range from 24% to 37%, depending on your total income. Additionally, there may be other local taxes to consider. It is recommended to consult with a tax professional to determine the exact amount of taxes owed.
Most you can win in the EuroMillions?
The top Jackpot is €190 Million.
How many balls are in the euromillions?
There are a total of 50 main balls in lottery and 12 lucky stars numbers in EuroMillions. However, only 5 main numbers and 2 lucky stars are chosen randomly for each draw, making it 5 + 2 (which is know as EuroMillions matrix). So in order to win the jackpot you have to match 5 main numbers (from 1-50) and 2 lucky numbers (from 1 to 12)
Do disabled veterans in New Jersey pay taxes if they win the lottery?
No. Your lottery winnings will be reported on your 1040 federal income tax return and the taxable amount will be subject to the income tax at your marginal tax rate.
