How Taxes on Lottery Winnings Work

website california tax on lottery winnings The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal california powerball lottery If you win the Mega Millions jackpot in California, you'll be happy to know that there are no taxes on lottery winnings in the state That's

california tax on lottery winnings Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments  If you win the Mega Millions jackpot in California, you'll be happy to know that there are no taxes on lottery winnings in the state That's  All lottery winnings are subject to Federal taxation (automatically reported ^ $ Million Powerball Jackpot Hit, Winning Ticket Sold in California (

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