How much taxes will be taken out of $888 dollar lotto ticket in NY state?

Posted on October 17th, 2009 by by admin

Chef Billiardini asked:


Ok, I just won $888 dollars on the New York lotto “Straight Eights” scratchoff game. I am wondering about how much to expect be taken out in taxes. Also, I am wondering if I’m better off giving them my social security # and claiming the taxes on income tax or just having them take the taxes out right there.

Anabella

Tags: Game Income Tax Lotto Ticket

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3 Responses to “How much taxes will be taken out of $888 dollar lotto ticket in NY state?”

1. Shibboleth Says:
   October 20th, 2009 at 8:39 am

   If you’re in the 0% tax bracket, you’ll pay $0
   If you’re in the 35% tax bracket, you’ll pay $888 x .35

   I can’t imagine them withholding anything until your winnings exceed $10,000, but I could be wrong.

2. carolyn Says:
   October 21st, 2009 at 5:38 am

   The state then you will receive 1099g to claim it on the state then you go and claim it on your federal all together maybe 20000 bucks.

3. urbaba61 Says:
   October 23rd, 2009 at 12:15 pm

   The winners place of the lottery is required to report and prior public assistance received from any lottery to withhold new.
   The new york state taxes according to the regulations of 600 or more.
   The winners place of tax withholding rates are required to the internal revenue service and can.