Tax Tips for Lottery Winners Allen Barron, Inc

how much does california tax lottery winnings
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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

The Golden State does not have a tax on gambling winnings per se Profits are simply treated as ordinary income Players can use the tax Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

slot besplatne igre Still, you'll probably owe more when taxes are due since the top federal tax rate is 37% So a good first step a lottery winner could take is to California does not tax California Lottery winnings, however it taxes lottery winnings from other jurisdictions For SuperLotto Plus and Mega Millions