What Is the Tax Rate for Lottery Winnings? - Money

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New Mexico % ; New York % ; North Carolina % ; North Dakota % ; Ohio %

If you live in New York, get out your wallet, because that state taxes lottery winnings at %, plus additional state taxes at a % final Unlike in the United States, where lottery wins are taxed, European jackpots ^ New York Ticket Wins Mega Millions® Jackpot! Mega

local lottery sambad The lump sum that most New York residents would get after federal and state taxes would be $310,088,912 Additional taxes are charged if you What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted