Powerball ticket sold in California wins $ billion jackpot

Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

california lottery ticket scanner We show both the initial mandated federal withholding of 24% as well as the remaining federal taxes that will be due The initial state withholding taxes are

california lottery homepage Lottery Tickets: Sales of tickets for California Lottery games are not taxable You should not include them in your sales and use tax return as part of your