Lottery Tax Calculator: How Your Winnings Are Taxed

tax on lottery winnings
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California, unlike some other states, does not levy income tax on lottery tickets purchased within its borders However, this doesn't mean

The winnings constitute Part B income, taxed at 5% Directive 2: She cannot deduct the cost of the losing tickets to the extent of gambling gains because these

taxes on $2 million dollars lottery winnings 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

tax on winning lottery Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken