New York stAte LotterY wiNNers whAt Are mY tAx respoNsibiLities For

does lottery winnings count as income
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Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

However, if you did not provide your Social Security number to the payer, the amount withheld will be 31% The full amount of your gambling winnings for the

does illinois tax lottery winnings But you're still subject to the income tax rate for the bracket your portion of the winnings places you into If you personally claim the prize

does turning up the volume on a slot machine help This form reports the amount of your Lottery winnings and must be filed with your federal income tax return You should also keep a copy for your records