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Originally Posted by SCUDSBROTHER
I hit a dollar pick 3 that paid $5870,and they only gave me about $4400 of it.So,it must be 25%.
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It varies state to state. Or at least it has in my recent lifetime.
Some states withhold from the payoff. And some just make one sign with a written obligation to pay the taxes, and give the full amount at the window.....with an obligation to reconcile the tax liability at the end of the year.
The amounts of withholding at the window do escalate in some states, depending upon the size of the win.