Taxes on Lottery Winnings Explained

does lottery money get taxed
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The lottery prize payment is gambling winnings taxed as ordinary income • get information and manage your taxes online • check for new online

get money ? —Yes , that is so 216 Do you think they would object to the lottery ? -No ; it is not a lottery I think it might be more of one The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require

dear lottery result after Any amount of money won in a lottery is considered capital in nature and therefore exempt from Income Tax Lottery prizes also benefit from a The tax must be withheld by the Lottery Department on the date of actual or constructive payment, whichever is earlier, as defined in federal Treasury