Tallying Up the Taxes on Lottery Winnings - TurboTax

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

tax rate of zero on the investment income earned inside the Powerball annuity California Notices Go Sections · Politics · New

california lottery check Such income is generally taxed at a flat rate of 30% Nonresident aliens generally cannot deduct gambling losses The only exception is Canadian

california lottery post The Golden State does not have a tax on gambling winnings per se Profits are simply treated as ordinary income Players can use the tax