New York(NY) Take 5 Prize Analysis
As legally required by the state of New York, taxes are withheld on lottery winnings of 600USD or more. For prizes greater than 5,000USD, US citizens and resident aliens having a social security number have their prizes reduced with 25%, which represents the federal taxes. The New York state tax rate for lottery winning sits at 8.82%, with New York City withholding 3.876% and Yonkers withholding 1.323%. For more information on taxes for lottery winnings in the state of New York,
click here.
For each New York(NY) Take 5 drawing, 50% of the total sales for the draw is allocated for the prize.
20% of the prize money is allocated for the first prize. 30% of the total prize money is allocated to second prize. 50% of the total prize money is allocated to third prize.
The actual prize awarded at each prize level is determined by total prize money of the prize level divided evenly by the number of winners. If there is not first prize winner, the first prize money will be added to the second prize money pool. The prize money of New York(NY) Take 5 will not be rolled over to next drawing.
Enter an amount 5000 or more below to see the detailed prize analysis.
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Next Draw: Thu Nov 21, 2024 |
