How Are Lottery Winnings Taxed by State?

ny lottery tax calculator
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If you win more than $5,000, you have to pay a 24 percent federal withholding tax However, depending on your annual earnings and tax deductions, you may get

The lottery will withhold state tax using the highest tax rates in effect, which is currently % The New York State Lottery is required to

ny lottery daily 3 How do lottery taxes work? ; 10% $0 to $23,200 10% of taxable income ; 12% $23,201 to $94,300 $2,320 plus 12% of the amount over $23,200 ; 22

ny lottery tickets All apartments are awarded through a lottery and your eligibility is determined by household size and income Tax returns and income are verified with the IRS