How Are Lottery Winnings Taxed by State?
How Are Lottery Winnings Taxed by State?
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There are generally no California state taxes for Lottery prizes, This form reports the amount of your Lottery winnings and must be filed with your federal
Now, here's the good news for all you Golden State lottery champs: California itself doesn't tax lottery winnings! That's right, you get to keep all your If you win the Mega Millions jackpot in California, you will be happy to know that there are no taxes on lottery winnings in the state However, California has
lottery calculator pa How Much Are Lottery Winnings Taxed? · 24% withheld from $930 million = $232,200,000 · Additional amount you need to pay with a 37% tax rate: $111,900,000 · Total Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment
