New York Has Highest Mega Millions Lottery Tax Payment

ny lottery tax
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The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37

This success is translating into millions in tax for New York, largely because of the 51% tax on gross gambling revenues No other state has a

ny lottery housing Gambling winnings have a 24% federal tax rate applied to them New York State tax rates vary from 4% to % depending on annual income The higher your

ny lottery news Though some states do not have a state lottery tax withholding, they Those in New York state profit the least, at $ million