how do taxes work on lottery winnings
State of NJ - Division of Taxation
how do taxes work on lottery winnings
how do taxes work on lottery winnings
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how do taxes work on lottery winnings This planning option will not work for lump-sum recipients For example, winners in a high-tax state such as New Jersey would have to pay a Although you don't have to pay taxes on your lottery winnings, there are a number of things to keep in mind once the money has been sent to you After the 24% withholding, the winner could still owe another 13% in federal taxes, or about $70 million Marginal tax brackets for tax year
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