New Jersey Lottery Questions and Answers -

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While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

How do I calculate lottery lump sum after taxes? · Check how much the lump sum payout differs from the advertised lottery prize US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

2 by 2 nd lottery If you live in Georgia, your state lottery tax is % After federal and state taxes you'd pocket $268,613,512 If you live in New York, get Lottery and Gambling Winnings · Withholding Rate from Gambling Winnings New Jersey Income Tax is withheld at an amount equal to three percent (3