California - Subtractions--Lottery Winnings
California - Subtractions--Lottery Winnings
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Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or
How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on California law prohibits the imposition of any state or local tax on the sale of lottery tickets or shares of the lottery, any prize awarded by the
give me the florida lottery In addition to federal taxes, most states tax lottery winnings New Jersey is among the highest state tax rates ultimately taking % of the Prize money is considered any money received from awards, raffles, lottery winnings, and any other type of contest Generally, the IRS taxes prize money as
