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

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Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no

Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a We are required to withhold state taxes of percent for any prize over $5,000 Prize money in Minnesota is treated just like

hindi kerala lottery result How do I calculate lottery lump sum after taxes? · Check how much the lump sum payout differs from the advertised lottery prize Annual installments would pay an average of nearly $ million with a 37% federal marginal rate Lottery winnings are also subject to taxes in