$ billion Mega Millions: How is the lottery taxed in CA?

taxes on $1 million dollars lottery winnings
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If someone reports an income over $1 million, that triggers the additional 4% “fair share” tax, according to the Massachusetts tax officials “

Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with

taxes from lottery winnings The Powerball jackpot has grown to an estimated $1 billion Here's what the winner can expect to pay in taxes

taxes paid on lottery winnings State lotteries will immediately deduct 24% of jackpot winnings for federal taxes, and additional federal taxes may be required when filing