Quick Links   You last visited January 22, 2021, 1:00 pm All times shown are Eastern Time (GMT-5:00) | Do NYL withholds NYC income tax of 3.876% from NYC residents for prizes over $5,000Thread Starter
725 5th Av,New York,NY 10022 United States Member #197346 April 9, 2019 5614 Posts Online | I know Federal and State tax(8.82) are withheld on the spot I want to know do they withhold the 3.876% NYC tax also for NYC residents from prizes of over $5,000 as I live in NYC | | |
700 light yrs West of Milky Way Galaxy's Center United States Member #200645 September 1, 2019 749 Posts Offline | I know Federal and State tax(8.82) are withheld on the spot I want to know do they withhold the 3.876% NYC tax also for NYC residents from prizes of over $5,000 as I live in NYC Well, I would think that NYC's tax rate might be a little higher than tHAt..!! not sure , but.. I remember driving to NYC awhile ago,.. drove thru the Lincoln Tunnel.. and Dhamn near hit the ceiling of my vehicle when I got to the toll booth attendant...she told me the fee was $13. ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! and it only took about 15 min..!! Hell, where I'm from ?.. our highest toll charge is $.50 cents..!!
So., if it is THAT low of a Income tax rate, it's because NYC makes its $$ off of suckers like me.. unsuspecting travelers.!  So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets. -Stat$talker ...MATH... The final Stochastic frontier... These are the Lottery Voyages of Stat$talker..!! The ongoing Mission,..to seek out the Laws of "Probability Math"... to master its rules to invoke...to Conquer ALL Major Jackpots..!! ...To boldly go,... Where NO Player has gone before...!! | | |
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725 5th Av,New York,NY 10022 United States Member #197346 April 9, 2019 5614 Posts Online | Well, I would think that NYC's tax rate might be a little higher than tHAt..!! not sure , but.. I remember driving to NYC awhile ago,.. drove thru the Lincoln Tunnel.. and Dhamn near hit the ceiling of my vehicle when I got to the toll booth attendant...she told me the fee was $13. ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! and it only took about 15 min..!! Hell, where I'm from ?.. our highest toll charge is $.50 cents..!!
So., if it is THAT low of a Income tax rate, it's because NYC makes its $$ off of suckers like me.. unsuspecting travelers.!  So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets. -Stat$talker Well you have to understand it’s just a city tax...It’s one of very few cities to have it’s own income tax..So 3.876 % is huge...It’s on top of whatever Fed bracket rate your in and the NY state 8.82 %...But for lottery winnings Fed 24%,State 8.82 % But I want to know do they take the city tax also on the spot... about NYC,there’s also sales tax and property tax too...On top of State sales tax...But city sales tax is limited to few things though like hotels,taxi ride etc..Also city takes hundreds of millions in tickets to drivers,cyclists,bikers,subway fare evaders,home owners garbage,home owners bad sidewalk/front etc You can get a small packed cake for .50 or a box or str play in pick 3 or pick 4 for 50 cent in nyc 🤪 | | |
Retired.
In front of my computer. United States Member #90247 April 24, 2010 9815 Posts Online | I know Federal and State tax(8.82) are withheld on the spot I want to know do they withhold the 3.876% NYC tax also for NYC residents from prizes of over $5,000 as I live in NYC Are lottery prizes taxable? Lottery winnings of $600.01 and over are subject to Federal Withholding tax. For winnings of $600.01, up to and including $5,000, you will be issued a W-2G form to report your winnings on your federal income tax form. For winnings of $5,000.01 and over, your state's Department of Revenue removes the 24 percent federal withholding before you receive your winnings check (or, if it is an annuity, from each winnings check). You then receive a W-2G form with each check to submit with your 1040 form to show that the 24 percent federal withholding already has been paid. In addition to federal tax, your state will make additional withholdings for taxes, and most states will deduct other money that you may owe to the state, such as back taxes, child support, loan payments, etc. In addition, like the federal tax withholding, the state tax withholding at the time of prize payout may not be the total state tax owed at the end of the year. You must consult your state division of taxation for more information about the total state tax requirements for lottery winners. The state tax withholdings are as follows: Arizona 5% state withholding (Arizona residents), 6% state withholding (non-Arizona residents) Arkansas 7% state withholding California No state tax on lottery prizes Colorado 4% state withholding Connecticut 6.99% state withholding Delaware No state tax on lottery prizes Florida No state tax on lottery prizes Georgia 6% state withholding Idaho 6.925% state withholding Illinois 4.95% state withholding Indiana 3.23% state withholding Iowa 5% state withholding Kansas 5% state withholding Kentucky 5% state withholding Louisiana 5% state withholding Maine 5% state withholding Maryland 8.95% state withholding (Maryland residents), 8% state withholding (non-Maryland residents) Massachusetts 5% state withholding Michigan 4.25% state withholding Minnesota 7.25% state withholding Mississippi 5% state withholding Missouri 4% state withholding Montana 6.9% state withholding Nebraska 5% state withholding New Hampshire No state tax on lottery prizes New Jersey 8% state withholding New Mexico 6% state withholding New York 8.82% state withholding, plus: 3.876% (NYC residents), 1.323% (Yonkers residents) North Carolina 5.499% state withholding North Dakota 2.9% state withholding Ohio 4% state withholding Oklahoma 4% state withholding Oregon 8% state withholding Pennsylvania 3.07% state withholding Rhode Island 5.99% state withholding South Carolina 7% state withholding South Dakota No state tax on lottery prizes Tennessee No state tax on lottery prizes Texas No state tax on lottery prizes U.S. Virgin Islands † Unknown State Tax Rate Vermont 6% state withholding Virginia 4% state withholding Washington No state tax on lottery prizes Washington, D.C. 8.5% state withholding West Virginia 6.5% state withholding Wisconsin 7.65% state withholding Wyoming No state tax on lottery prizes "You can observe a lot just by watching." Yogi Berra, Hall of Fame baseball player.
The numbers will tell you what numbers to play. Pay attention to the numbers. | | |
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725 5th Av,New York,NY 10022 United States Member #197346 April 9, 2019 5614 Posts Online | Well, I would think that NYC's tax rate might be a little higher than tHAt..!! not sure , but.. I remember driving to NYC awhile ago,.. drove thru the Lincoln Tunnel.. and Dhamn near hit the ceiling of my vehicle when I got to the toll booth attendant...she told me the fee was $13. ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! and it only took about 15 min..!! Hell, where I'm from ?.. our highest toll charge is $.50 cents..!!
So., if it is THAT low of a Income tax rate, it's because NYC makes its $$ off of suckers like me.. unsuspecting travelers.!  So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets. -Stat$talker Probably when someone is farting or sleeping they are paying tax in New York City... New York City”s yearly budget is less than only these states NY,CA and TX | | |
700 light yrs West of Milky Way Galaxy's Center United States Member #200645 September 1, 2019 749 Posts Offline | Probably when someone is farting or sleeping they are paying tax in New York City... New York City”s yearly budget is less than only these states NY,CA and TX If equal treatment under the Law is true to the letter.. then everyone should pay the same rate of taxes FOR each tax bracket.! Instead of 1 flat rate on ALL your Net earnings.. My 1st 15% tax bracket money is no different than someone who's Net earnings were at just the 15% tax bracket! Even if I've earned $100,000... Again, most folks don't "think outside the box"..!! -Stat$talker ...MATH... The final Stochastic frontier... These are the Lottery Voyages of Stat$talker..!! The ongoing Mission,..to seek out the Laws of "Probability Math"... to master its rules to invoke...to Conquer ALL Major Jackpots..!! ...To boldly go,... Where NO Player has gone before...!! | | |
United States Member #205233 March 19, 2020 316 Posts Offline | "Render unto Caesar that which is Caesar's!"  | | |
700 light yrs West of Milky Way Galaxy's Center United States Member #200645 September 1, 2019 749 Posts Offline | "Render unto Caesar that which is Caesar's!"  Caesar has been dead for a loong time..!, but I "C" your point.. I realize that we are living in the Biblical last days..in the 2nd Beast, which rose up out of the land, with 2 Lamb-like horns(Church & State), but speaks like a dragon..!! ...But I still think, everyone should pay taxes equally as their Net earnings passes thru EACH tax bracket..!!..not 1 high flat rate on their ENTIRE Net earnings.. -Stat$talker ...MATH... The final Stochastic frontier... These are the Lottery Voyages of Stat$talker..!! The ongoing Mission,..to seek out the Laws of "Probability Math"... to master its rules to invoke...to Conquer ALL Major Jackpots..!! ...To boldly go,... Where NO Player has gone before...!! | | |
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