California Code of Civil Procedure

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The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax taxes, which reduce the payout by more than a third However, California is one of eight states that do not tax Powerball winnings Castro

kerala lottery result 23.11.23 When California voters approved the lottery in 1984, they required 34 cents of every dollar go towards education That remained the law until Lottery dreamers are setting their sights on the growing Mega Millions jackpot now that a ticket worth more than $1 billion finally has been