California Lottery says $2 billion Powerball winner is legitimate

how much does california tax lottery winnings
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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

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 What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

how to beat the slot machines Winnings would be subject to federal taxes, and many states also tax lottery winnings Powerball is played in 45 states, as well as However, there are 13 states that do not collect taxes on residents' lottery winnings California, one of the states that doesn't tax winnings