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California lottery winnings are not subject to California income tax, but they are subject to federal income tax and to income tax in other states if the winner is not a California resident.
If you are a non-resident alien, they will withhold $7200.
If you are subject to backup withholding, $6720.
For everyone else, $6000.
Remember, the amount they withhold is not the actual amount of taxes that you owe on your winnings. That amount can only be determined when you fill out your Form 1040 at the end of the year. You may end up owing a lot more at the end of the year or getting a refund at the end of the year. In addition, if you are not a California resident, you may end up owing your home state a lot of money at the end of the year.
What else can I help you with?
How can I deduct property taxes in California on my tax return?
To deduct property taxes in California on your tax return, you can itemize your deductions on Schedule A of your federal tax return. Include the amount of property taxes paid on your California property in the "Taxes You Paid" section. Be sure to keep records of your property tax payments for documentation.
If you use the same numbers for the lottery how long will take to win the lottery?
never, the numbers keep changing.
Can losing lottery tickets be a tax write-off?
Oh, dude, losing lottery tickets being a tax write-off? That's a good one! Unfortunately, losing lottery tickets are not deductible on your taxes. You can't claim them as a gambling loss unless you have actual proof of purchase and winnings. So, like, keep track of those winners, but don't count on the losers to save you come tax time.
How do you hit the lottery?
gotta be in it to win it. keep trying.
What paraphernalia is used to conduct the lottery and what attempts are made to keep the traditional ceremony?
what objects were used to conduct the lottery
Can Texas lottery winners keep anonymous?
I think yes
Why does your boyfriend keep seeing the numbers 511 everywhere?
Time to play the lottery.
Why does government need taxes?
the government need taxes to keep the country running
Where are some of the places that one can keep track of the UK Lotto results?
One of the main places that one can keep track of the UK Lotto results is by going to the Lottery website. The Lottery website allows people to keep track of Lotto results for locations across the world.
How do you get a master ball in the lottery because you got a ultra ball?
You keep going to the lottery and ask the lady if you can draw a ticket, if it matches your pokemon's I.D. number you will get a masterball.
What are the odds of winning the Georgia lottery?
Little to none....just keep your money and you are the Winner.
How do you win the lottery in Pokemon HeartGold?
keep doing it every day and u will eventually win
