Reports of the United States Tax Court

how much does california tax lottery winnings
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California child support statutes and federal income tax laws provide that lottery or gambling winnings , interest , dividends , investment income

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

national lottery jackpot Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax California State Lottery were an annuity within the meaning of the does not dispute that peti- tioner was a resident of Israel , entitled as