Lottery Tax Calculator: How It Works, What You Owe

california taxes on lottery winnings
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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

Lottery: There's no state or local tax on lottery winnings, but you'll still owe federal income tax on your prize money Find more California: Does not tax lottery winnings at the state level Federal taxes still apply New Hampshire and Tennessee: Don't have general income tax, but they do

4 9 2023 lottery sambad Despite having one of the highest income tax rates in the country, California is one of a minority of states that does not tax lottery winnings, although some Winnings would be subject to federal taxes, and many states also tax lottery winnings Powerball is played in 45 states, as well as