$ billion Mega Millions: How is the lottery taxed in CA?
$ billion Mega Millions: How is the lottery taxed in CA?
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The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that
State taxes on lottery winnings differ · Washington, : % · Maryland: % · New York: % · New Jersey: 8% · Oregon: 8% · Wisconsin: % Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no
6 p.m. lottery result How much tax do you pay on lottery winnings? In the , if you win a lottery of $600 or less, you don't have to report it If you win more than $5,000, you US lottery taxes differ from other countries because winnings are considered taxable income for both federal and possibly state taxes The federal government
