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

Taxes on Lottery Winnings by State 2024 how much do they tax lottery winnings How much do I pay in taxes if I win 1,000,000? If your gross prize for lump sum payout is $1,000,000, you need to pay $334,072 in total tax ($240,000 federal how do slot machines pay out Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

how does a casino make money on poker Before getting your winnings, you'd have to pay a 24% federal tax withholding, which the IRS requires for winnings over $5,000, CNBC explains