Taxes on Lottery & Gambling Winnings: What You Need to Know

lottery tax calculator ny
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The reason for this is that states tax lottery winnings at different rates New York, for example, taxes the most at up to 13% Generally,

As a result, you must compute the New York City tax using the New York City resident tax rates and include in New York City taxable income the amount of the

lottery mo For example, if you win the lottery in New York, the state tax rate is % To calculate the state taxes, multiply your winnings by the state

lottery ticket display ideas Figure out your approximate tax bill that will be due after you win the lottery To see whether your state taxes lottery winnings, see our state lotteries