$ billion Mega Millions: How is the lottery taxed in CA?

lottery tax rate
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What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

shall attract a TDS rate of 30%, irrespective of the income tax bracket of the winner Moreover, the winnings cannot be clubbed with the regular

lottery ticket numbers Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner

lottery sambad 1507 23 New Jersey is among the highest state tax rates ultimately taking % of the prize The winnings after taxes According to Lottery Post,