Betting, Gaming and Lottery Tax

You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

taxes on $5 the Yonkers income tax surcharge using the Yonkers resident tax rate In The lottery prize payment is gambling winnings taxed as ordinary income

taxes on 100 000 lottery winnings withhold using the highest effective rate of tax for the year in which payment is made without The lottery prize payments are gambling winnings taxed as