Lump Sum or Annuity for Lottery Winners?

California does not tax lottery winnings If individuals win the lottery in California, they are not required to pay state taxes on their winnings However,

How do lottery taxes work? ; 10% $0 to $11,600 10% of taxable income ; 12% $11,601 to $47,150 $1,160 plus 12% of the amount over $11,600 ; 22

lottery sambad 19 5 24 California: No state tax on lottery prizes Your average net per year: $4,304,812, Your net payout: $60,521,812 After 30 payments: $129,144,360 Annuity

lottery schedule Lottery Tax Calculator helps you determine what you owe in taxes Know how lottery winnings are taxed? What is the tax rate for lottery? And more at TaxAct