what is the tax rate for lottery winnings in new york
On prizes of at least $5,000, the usual federal withholding rate is 25 percent as of publication. The New York state lottery agency also withholds 8.82 percent for state income tax. For residents of New York City, an additional 3.876 percent is withheld for city income tax. Residents of Yonkers will have 1.477 percent withheld for city taxes.