Gambling Personal income types - Franchise Tax Board -

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However, there are 13 states that do not collect taxes on residents' lottery winnings So with one winning ticket sold for Wednesday's $

Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no It is important to file tax returns reporting your winnings and pay taxes owed to avoid interest and penalties There is a 5 percent per month

lottery+result+today Lottery winnings do not get taxed on the California state level but are subject to federal taxes We can not stress enough how important it is California California doesn't tax lottery winnings — that's good news if you win the Powerball jackpot, as Californian Edwin Castro did with