Taxes on Lottery Winnings by State 2024

Smart tax strategies for lottery winners - Tax Insider federal tax on lottery winnings The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require federal tax on lottery Federal tax Right off the bat, lottery agencies are required to withhold 24% from winnings of $5,000 or more, which goes to the federal

federal lottery One way to avoid taxes on lottery winnings is to donate the money to charity Charitable donations are tax-deductible, which means that you can