California Tax Guide: What You'll Pay in 2024

lottery tax in california
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The tax information provided here is based on 2024 federal marginal rates and state tax rates It shows the final federal and state tax burdens each year, not

Lottery winnings are considered taxable income for both federal and state taxes · Federal tax rates vary based on your tax bracket, with rates up to 37%  If you pick up the winning ticket in Arizona, however, you'll owe % In Arizona, after all taxes, roughly $ million would be withheld

slot of cash However, states with no state income tax, like Florida and Texas, will not tax your lottery winnings And two other states don't tax Cash prize received, INR 2 lakhs ; Market value of car won, INR 10 lakhs ; Total taxable winnings, INR 12 lakhs ; Tax @ %, INR 374,400