California Estate Tax and Lottery Winnings
California Estate Tax and Lottery Winnings
You are taxed on anything you win, whether it's cash, an item, a trip, or a service Winnings are subject to federal and state income taxes Most tangible
Prize money is considered any money received from awards, raffles, lottery winnings, and any other type of contest Generally, the IRS taxes prize money as Prize money is considered any money received from awards, raffles, lottery winnings, and any other type of contest Generally, the IRS taxes prize money as
poker tournaments in vancouver While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding If you win the Mega Millions jackpot in California, you will be happy to know that there are no taxes on lottery winnings in the state However, California has
