Lottery Tax Calculator

California - Subtractions--Lottery Winnings california tax lottery winnings It is important to file tax returns reporting your winnings and pay taxes owed to avoid interest and penalties There is a 5 percent per month california lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

california anonymous lottery Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%