How Are Lottery Winnings Taxed in California?

How Are Lottery Winnings Taxed in California? what is the federal tax rate on lottery winnings While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding what are the most popular lottery numbers For prizes over $5,000, the Lottery is required to withhold 25% for federal taxes, and 8% for state income taxes For Video Lottery℠ Platinum Series

what are the most popular lottery numbers The winning cash prize of $747,200,000 after the 24% IRS withholding tax, drops to $567,872,000 But the winner shouldn't spend all that After

what letter is the slot receiver If you choose to donate, split, or assign your lottery winnings, in whole or in part, it is taxable to the recipient in the same way as for federal income tax If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an