How are Lottery Winnings Taxed?

23VAC10-140-282 Withholding on lottery prizes does lottery get taxed For instance, New York has one of the highest tax rates on lottery winnings at % Some states do not levy income tax or tax lottery winnings does canada have a visa lottery Most states charge a tax on lottery winnings The amount initially withheld and how the winnings get taxed depends on your state's tax rate

does phil laak still play poker Your tax obligation is not yet fulfilled, however Lottery prizes get taxed under the same rules as regular income tax Whatever prize money