What Happens When Players Hit the Lottery Jackpot in California?

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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

How to report gambling income All gambling winnings are taxable including, but not limited to, winnings from lotteries, raffles, 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

slot machine stand ideas Personal Income Tax Prizes received by Massachusetts residents from the Massachusetts lottery or from lotteries percent plus surcharge Winnings 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