$ billion Mega Millions: How is the lottery taxed in CA?

federal tax rate for lottery winnings
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However, the jackpot pushes the winner into the top federal tax bracket, which is 37% for 2024, Campo said After the 24% withholding, the

First, any prizes above $5,000 will be hit at least with a 24% federal tax, regardless of which state you are in The winner may owe additional You'll include the amount of your winnings when you file your tax return for the year rather than at the casino when you claim them Make sure to keep good

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