IP 201128 Connecticut Income Tax Treatment of State Lottery

how much do they tax lottery winnings
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You have to pay the taxes for those winnings in full The point is valid for all winnings, regardless of how you might have acquired those funds

All prize winnings are subject to federal and state income tax withholding State tax of % is automatically taken out for payouts $2,000 or more Payouts Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes

playing three card poker You'll include the amount of your winnings when you file your tax return for the year rather than at the casino when you claim them Make sure to keep good How to Keep More of What You Win Walter L Lewis won is much sweeter than money earned And paying taxes on money won is a bit easier to deal with than paying