State of NJ - Division of Taxation

how much tax is paid on lottery winnings
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30% tax on the winning amount · The amount of tax that person would have had to pay if his income did not include the winnings

However, once your prize is in a bank account, any interest earned on your prize is subject to income tax for both you and any gift recipients If you currently The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega

lottery sambad 06 03 24 There are also additional federal taxes of about 37% In total, you'll be paying more than $19 million Your total annual payment in California The Connecticut Lottery Corporation is required to report Connecticut lottery winnings to the IRS if the amount paid to the winner is $600 or more and at