Tax requirements are usually set by country and are not set differently for each lottery from that country.
The exact tax requirement for each lottery offered on theLotter is listed on its Results page.
In some lotteries (such as the US Powerball and Mega Millions), the advertised jackpots are the prize amounts before the deduction of taxes. Tax deducted at source refers to taxes deducted by the lottery organization prior to the prize being paid out to the winner.
In addition, there are many lotteries available on our site that are considered "tax free" as no tax is deducted. In these lotteries, the advertised prize amount is exactly what you would get if you won that prize.
In any case, no matter what the tax requirement is for a lottery, you may be subject to local taxation based on your country of residence.
US Lotteries: Taxes 101
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While taxes on US lottery winnings differ depending on the state where the ticket is purchased, the following information is accurate for tickets purchased on theLotter.
· US Powerball
· US Mega Millions
· Texas lotteries
How Do You Pay Taxes on Lottery Prizes Won at theLotter?
For taxed lotteries, you'll often see the phrase "lottery prizes are subject to taxation at source" in our results pages. Prizes you receive from theLotter are in amounts after all relevant taxes have been deducted.
Taxes that you may be subject to in your country of residence like income tax are the responsibility of the individual players, not theLotter. We recommend you consult with a financial advisor and accountant should you win a huge sum of money like a jackpot.
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Additional Information. Additional information about taxation on lottery winnings can be found on the Internal Revenue Service website. If you have any questions, please consult a professional tax adviser.
