Publication 140-W - FAQS: New York State Lottery Winners -

website how much tax is on lottery winnings Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no how to choose numbers for lottery Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,

how much tax is on lottery winnings In total, there are 36 states that impose taxes on lottery winnings The 36 states and their corresponding lottery tax rates are New York , Maryland (  The Michigan Income Tax Act has no provision to subtract your losses on the Michigan individual income tax return You cannot net the winnings and losses for  However, once your prize is in a bank account, any interest earned on your prize is subject to income tax for both you and any gift recipients If you currently

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