How much tax do you have to pay on New York lottery winnings?


Individuals who play the lottery in New York will be subject to an 8.82% state tax withholding as of December 2012. In Addition to that, NYC residents will pay an additional 3.648% in taxes. Yonkers residents will also pay an additional tax on their lottery winnings of 0.897%.
Q&A Related to "How much tax do you have to pay on New York..."
35% Federal and 30% New York Income Tax.
All gambling winnings, including lottery winnings, are taxable as income. Generally, as of April 2011, 28 percent is withheld from proceeds of over $5,000 for federal taxes, although
You are the only one that has all of the necessary information that will have to be reported on your income tax return for the year in order to do the calculation for the numbers
For prizes of more than $600, 5% is withheld .For prizes
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