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Do NYL withholds NYC income tax of 3.876% from NYC residents for prizes over $5,000

Topic closed. 7 replies. Last post 6 months ago by Stat$talker.

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725 5th Av,New York,NY 10022
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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 

    Stat$talker's avatar - animated sphere.gif
    700 light yrs West of Milky Way Galaxy's Center
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    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.Eek

    ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! Shocked and it only took about 15 min..!!

    No No 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.! LOL

    So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets.Thud

    -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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      Thread Starter
      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.Eek

      ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! Shocked and it only took about 15 min..!!

      No No 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.! LOL

      So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets.Thud

      -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 🤪

        grwurston's avatar - Lottery-012.jpg
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        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
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          April 9, 2019
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          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.Eek

          ...I said ,, "Lady..!!, I didn't spend the night in there, .I merely DROVE thru there..!! Shocked and it only took about 15 min..!!

          No No 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.! LOL

          So, the State Lottery is a "Johnny come lately", and there is no more depth to NYker's pockets.Thud

          -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

            Stat$talker's avatar - animated sphere.gif
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            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

            Another thing..!!

            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...!!

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              "Render unto Caesar that which is Caesar's!" Hit With Stick

                Stat$talker's avatar - animated sphere.gif
                700 light yrs West of Milky Way Galaxy's Center
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                "Render unto Caesar that which is Caesar's!" Hit With Stick

                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...!!