How much tax is taken out of5 thousand dollar N.J. lottery winnings?

How much tax is taken out of5 thousand dollar N.J. lottery winnings?

Postby chogan76 » Mon Apr 25, 2011 4:43 am

Usually you get around half, after taxes.
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How much tax is taken out of5 thousand dollar N.J. lottery winnings?

Postby sigwald » Mon Apr 25, 2011 4:46 am

The same amount that is taken out for ANY other income you receive. If you're making a HUGE income, then a greater percent of money will come out of your winnings. If you're making a small amount of money per year with your job, then a smaller portion will be taken.

Lottery winning are the SAME as any other form of income. (In MOST countries - some countries are tax free for lottery winnings.)
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How much tax is taken out of5 thousand dollar N.J. lottery winnings?

Postby yanisin25 » Mon Apr 25, 2011 4:49 am

that is uncountable
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