I Won the Lottery! How Bad Are Taxes Going to Be?

Directive 86-24: Lottery Winnings; Lottery Tickets - taxes paid on lottery winnings All winnings from an out-of-state lottery are taxable for New Jersey gross income tax purposes, regardless of the amount Page 2 7 ) Q Will the New taxes on lottery winnings Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or

taxes on 1 million lottery According to CNBC, these jackpot winners would then have to pay another 13% in federal taxes to satisfy the income tax requirement The Oregon