Tax Tips for Lottery Winners

website lottery taxes in california Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax lottery de new york taxes , and that the power of Congress to regulate coinage included the lottery tickets ) ; Head Money Cases 112 U S 580 ( tax on

lottery taxes in california The lottery's 2019 guide says that's 24% for citizens or resident aliens, 30% for anyone else In California, no state or local tax is  The lump sum payment is about 60–65% of the announced prize, let's say 62% Then federal tax is 37% There is no California state tax on lottery  If you're familiar with big lottery prizes or other gambling wins, you know you have to pay taxes on your prize How much you pay will depend on

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