Ticket Sold In LA Wins $ Billion Powerball Jackpot—Here's How

lottery tax in california
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If you're a California resident and purchase your ticket there, you pay the 37% federal tax rate But you're in luck because California doesn't

Becker says most people opt for a lump sum payout, which in this case would be $ million before federal taxes California does not tax California has nine tax brackets, ranging from 1 percent to percent Those who make over $1 million also pay an additional 1 percent income

lottery result ss403 In some ways, they face similar fates: Both are income you must report to the IRS For the lottery or most casino gambling, however, you can However, California is one of the 13 states that do not collect additional taxes on residents' lottery winnings So how much will Wednesday's