Do You Have to Pay Taxes on Winnings?

Do You Have to Pay Taxes on Winnings? california taxes on lottery winnings Generally, inherited lottery winnings are not taxable in California since there is no federal or state inheritance tax in California california lottery fantasy 5 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal

california lottery fantasy 5 Now, here's the good news for all you Golden State lottery champs: California itself doesn't tax lottery winnings! That's right, you get to keep all your

california lottery logo California California doesn't tax lottery winnings — that's good news if you win the Powerball jackpot, as Californian Edwin Castro did with Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024