How are Lottery Winnings Taxed?

taxes lottery winnings
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The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made

New Yorkers, for example, could see their winnings taxed at up to % or more, depending on where in the state they live Only a few states —

taxes on million dollar lottery Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%

taxes on lottery winnings in florida Personal Income Tax Prizes received by Massachusetts residents from the Massachusetts lottery or from lotteries, raffles, races, beano or other events of