How Are Lottery Winnings Taxed in California?

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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

The same is true at the state level While lottery winnings are subject to state income tax in most states, withholding tax varies from zero ( So if you're lucky enough to win, rest assured that your winnings are tax-free It doesn't matter how much you win or what game you play, you'll

dear lottery result 23.07 23 The Connecticut Lottery Corporation will withhold Connecticut income tax at the rate of % from all payments of reportable Connecticut lottery winnings made The current TDS rate on such winnings is 30%, with the total tax liability, including surcharge and cess, amounting to % Winning award