Tax Information
Tax Information
With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after
What is taxable, what is not · Tax reliefs, rebates and deductions The totalisator pool is divided and distributed as winnings among the If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding
frijsenborg slot 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 — The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega
