State of NJ - Division of Taxation

State of NJ - Division of Taxation taxes taken out of lottery winnings The Internal Revenue Service imposes a federal tax rate of 24%, and California's state income tax, with rates ranging from 1% to %, taxes on lottery winnings in florida New Yorkers, for example, could see their winnings taxed at up to % or more, depending on where in the state they live Only a few states —

taxes on lottery winnings in florida The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department

taxes on lottery winnings calculator canada Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their As per Section 115BB of The Income Tax Act, 1961, the government would levy tax on winnings from lotteries, crossword puzzles, races including