$ billion Powerball winner to pay $0 in California taxes

$ billion Powerball winner to pay $0 in California taxes california lottery tax When you win the lottery, the winnings are taxable income, and you must pay federal and state taxes You may be subject to the highest tax bracket depending on california lottery rules The cash value was $ million, still an incredible amount of money The state of California doesn't tax lottery winnings, but the IRS does,

california lottery rules 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

california tax lottery winnings Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The ¶16-305, Subtractions--Lottery Winnings California law prohibits the imposition of any state or local tax on the sale of lottery tickets or shares of the