State of NJ - Division of Taxation

Lottery Payout Options: Annuity vs Lump Sum nj lottery tax The benefit of the basic exemption limit and income tax slab rate is also not applicable to this income The entire amount received will be nj lottery pick 3 But if you take the lump-sum cash prize, you'll pay tax twice: on the prize when you win it, and on the income you get by investing it This

nj lottery pick 5 You can usually redeem your prize at a lottery retailer for smaller prizes under $600 These winnings are not taxed You are not usually taxed