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

website how much lottery after taxes How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on how much does a slot machine weigh This is only for states that don't have a state lottery tax withholding, though you'll likely have to pay taxes on it later Outside of those

how much lottery after taxes So, you may ask, How much do I get if I win the Powerball? It is about 52 percent of the total jackpot amount For example, if the Powerball  Any payout over $5,000 after deducting the cost of the wager will automatically have 24% withheld for federal taxes The actual rate at which  The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

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