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

HOW DO YOU WANT YOUR MONEY? 50% CASH OPTION: ONE LUMP SUM PAYMENT PRIZE, Annual Payment Before Taxes, Annual Payment After Federal Income Tax Withholding*

Publication 140-W - FAQS: New York State Lottery Winners - Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

HOW DO YOU WANT YOUR MONEY? 50% CASH OPTION: ONE LUMP SUM PAYMENT PRIZE, Annual Payment Before Taxes, Annual Payment After Federal Income Tax Withholding*

how much to play lottery The duty is based on the number of players that can play at a game of chance machine How would you rate this page?

Before getting your winnings, you'd have to pay a 24% federal tax withholding, which the IRS requires for winnings over $5,000, CNBC explains

how to choose numbers for lottery lottery , if the proceeds are more than $ 5,000 • A wagering pool how much you were paid during the year It also includes your name and

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,