How Are Lottery Winnings Taxed in California?

how much taxes on lottery
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With a federal tax rate of 37%, a Mega Millions winner would pay a total of $ million in federal taxes and pocket $ million by 2051 if

US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government

how much is taxes on lottery winnings The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

how does a slot machine work How do I calculate lottery lump sum after taxes? · Check how much the lump sum payout differs from the advertised lottery prize