New Jersey Lottery Questions and Answers -

how much tax is deducted from lottery winnings
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State Tax Commission, Appellate Tax Board, Docket No 64558, June 6, 1975 Therefore, Taxpayer Davis may not deduct the cost of the losing lottery tickets on

5,000 per lottery ticket Applicable tax shall be deducted at source and treated as final tax 3 Assessment Assessment of the income If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% Income tax is withheld at a flat 24% rate from

bøger om poker New Jersey Income Tax is withheld at an amount equal to three percent of the payout for both New Jersey residents and nonresidents ( The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn