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A Amount to be withheld The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of
Directive 86-24: Lottery Winnings; Lottery Tickets - how much taxes are deducted from lottery winnings
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The tax withholding rate is 24% for lottery winnings, less the wager, for prizes greater than $5,000 An example of the calculation used to determine whether a
how many straights are there in poker 5,000 per lottery ticket Applicable tax shall be deducted at source and treated as final tax 3 Assessment Assessment of the income