These Eight States Won't Tax Your Mega Millions Jackpot Winnings

Tax Planning for Lottery Winners federal lottery tax In addition to paying federal taxes on your lottery winnings, you may also have to pay state income tax The rates vary from state to state New York's tax rate federal lottery tax rate 1, 2018 Non-Video Lottery prizes over $5,000 will have both the 8% state and 24% federal taxes withheld Video Lottery prizes only have the 8% state tax

federal lottery Personal Income Tax Facts: Taxpayer Davis, a computer programmer, buys 15 lottery However, since federal law taxes the gain from gambling, Taxpayer Davis may