Ticket Sold In LA Wins $ Billion Powerball Jackpot—Here's How

website california taxes on lottery winnings The prize is subject to 37% federal income taxes as well as state and local levies depending on where the winner lives California is one of california lottery mega millions Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

california taxes on lottery winnings Alvarez opted for the latter, which amounted to $ before federal taxes Hailing the winnings, the California Lottery said: “Both  Yes, you do have to pay federal tax on California Lottery winnings However, you do not have to pay state or local taxes on any money you win playing the  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

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