california tax on lottery winnings
Here's the tax bill for the winning $ Mega Millions ticket
california tax on lottery winnings
website california tax on lottery winnings Generally, inherited lottery winnings are not taxable in California since there is no federal or state inheritance tax in California california lottery tax rate Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The
california tax on lottery winnings Substantial lottery winnings are a cash prize won in a single game, purchase of a ticket, hand, or similar bet, which is at least $3,750 before taxes or other How is income taxed in California? ; Income*, Tax Rate ; $0 to $20,824, 1% ; Over $20,824 to $49,368, 2% ; Over $49,368 to $77,918, 4% ; Over $77,918 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal
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