How Are Winnings Taxed in NC?

North Carolina will tax your lottery winnings just like all other income at a rate of % The federal government will also tax your lottery

That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

how to manifest winning the lottery The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made

how much would i get if i won the lottery Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments