Categories
BLOG

new jersey lottery tax

New jersey lottery tax

Start Date: 4/3/06

End Date: 2/5/07

Last Date to Claim Prizes: 2/5/08

Here’s How to Play
This ticket will feature one (1) game play: a “Key Number Match” play area. The player gently removes the latex covering the play area to reveal one (1) BASEBALL NUMBER and nine (9) YOUR NUMBERS, with a PRIZE amount below each of the YOUR NUMBERS play symbols. Match any of YOUR NUMBERS to the BASEBALL NUMBER, win PRIZE shown below that number. Reveal a “BASEBALL GLOVE”, win DOUBLE the prize.

Instant Pat From Your Lottery Retailer!
When you win $2, $4, $5, $10, $20, $40, $50, $100 or $500, sign your name on the back of the ticket. Present the ticket to any Lottery Retailer for validation and instant prize payment.

How to Claim $1,000, $5,000 or $30,000 Prizes!
When you win a $1,000, $5,000 or $30,000 prize, first sign your name on the back of the ticket, then fill out a Claim Form Mailer at any New Jersey Lottery Retailer and mail the original Claim Form Mailer, along with the ticket, to Lottery Headquarters. A check will be mailed to the winner following validation of the ticket.

More Than $6 Million in Prizes!
Approximately 5.4 million “CASH CATCHER” tickets are initially planned in this game. The New Jersey Lottery reserves the right to subsequently increase this quantity of tickets. Should additional tickets be introduced, prize levels and frequency of winning will be consistent with the following disclosures:

In the “CASH CATCHER” Instant Game, New Jersey allocates approximately 65% of the gross receipts to prizes. On the average, better than 1 ticket in 6 wins a prize. In a game of 5,400,000 tickets there are 414,000 prizes of $2; 210,600 prizes of $4; 144,000 prizes of $5; 158,400 prizes of $10; 39,960 prizes of $20; 21,870 prizes of $40; 8,622 prizes of $50; 828 prizes of $100; 252 prizes of $500; 54 prizes of $1,000; 5 prizes of $5,000 and 3 prizes of $30,000. Odds and number of winners may vary based on sales, distribution and claims.

Prizes may be claimed for one year after announced end of the game.
Minors (under 18 years) are not permitted to buy tickets but may win prizes!
Prize availability subject to prior claims. All Games may not be available at all retail locations.
Lottery winnings may be subject to State and Federal withholding taxes.
General Rules Governing Instant Games

POWERBALL, Mega Millions, Pick-6 Lotto and Jersey Cash 5 estimated jackpots are based on sales and one winner.
In the event of a discrepancy, the official and certified files maintained by
the New Jersey Lottery’s Drawing Unit shall prevail.
Copyright © State of New Jersey, 2010

New jersey lottery tax Start Date: 4/3/06 End Date: 2/5/07 Last Date to Claim Prizes: 2/5/08 Here’s How to Play This ticket will feature one (1) game play: a “Key Number Match”

Anything can happen in Jersey.

Have you got a winning ticket? Congratulations!

Here you will find instructions on how to claim a prize and information on tax requirements related to your prize.

  • HOW TO CLAIM A PRIZE
  • TAX REQUIREMENTS

NJ Lottery Office open by APPOINTMENT ONLY. CLICK FOR DETAILS

Congratulations!

If you’re reading this page, it means one of two things: You’ve won the lottery, or you’re an extremely positive thinker. Either way, congratulations are in order.

Now comes the fun part: claiming your prize. Just follow these directions and you’ll be on your way.

First, sign the back of your ticket immediately. Then take it to any New Jersey Lottery Retailer for validation. If your prize is worth $599.50 or less, you can receive your winnings in cash at any New Jersey Lottery Retailer.

If your prize is over $599.50, you must file a claim form with the New Jersey Lottery. Claim forms are available at all New Jersey Lottery Retailers or at New Jersey Lottery Headquarters. Due to safety precautions to mitigate the spread of COVID-19 it takes approximately four to six weeks to receive a check from the New Jersey Lottery Proper identification for tax purposes must be presented at the time of the claim for reporting to the Internal Revenue Service.

Winners of the New Jersey Lottery may choose to remain anonymous. However, to file a claim, proper identification must be presented for internal processing and for reporting to the Internal Revenue Service. For more information, see: The State Lottery Law, N.J.S.A. 5:9-1 et seq.

If you have a ticket that looks like a winner but is damaged, will not scan properly, or is showing no prize or a different value than expected, file a claim and include a brief note explaining the issue so that we may investigate the ticket.

For out of state winners, download, fill out and print the Claim Form and instructions. The New Jersey Lottery also suggests that you make a copy of your Claim Form and the tickets (front & back) in the rare event of a delay or loss in the mail. Staple your signed tickets to the Claim Form. Enclose the Claim Form and tickets in an envelope and mail to:

NEW JERSEY LOTTERY
Attn: Validations
P.O. Box 041
Trenton NJ 08625-0041

Tax Requirements for Lottery Prizes

Federal Income Tax. Federal law requires the New Jersey Lottery to withhold 24 percent from any prize in excess of $5,000. A higher federal withholding rate of 30 percent applies to any prize of $600 or more paid to a winner who does not furnish a taxpayer identification (social security) number.

New Jersey Gross Income Tax. State law requires the New Jersey Lottery to withhold State tax at the rate of 5 percent from any prize in excess of $10,000 and up to $500,000 or 8 percent from any prize in excess of $500,000. The higher State withholding rate of 8 percent also applies to any prize in excess of $10,000 paid to a winner who does not furnish a taxpayer identification (social security) number.

Tax Returns. After the end of the year, each winner will receive a Form W2-G report showing the amount of Lottery prize payments to be reported as income and the amounts of federal and State taxes withheld to be reported as credits on the winner’s federal and State tax returns.

Additional Information. For additional information about taxation of Lottery prizes, visit the US Internal Revenue Service website, the New Jersey Division of Taxation website, or consult a professional tax advisor.

Anything can happen in Jersey. Have you got a winning ticket? Congratulations! Here you will find instructions on how to claim a prize and information on tax requirements related to your