IP 200938 Connecticut Income Tax Treatment of State Lottery

IP 200938 Connecticut Income Tax Treatment of State Lottery whats the tax on lottery winnings If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding whats a good hand in poker A single ticket in New Jersey won the $ billion Mega Millions jackpot Here is how much the winner will owe in taxes

whats a good hand in poker In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government

whats strip poker How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,