These States Won't Tax Your Mega Millions Winnings
These States Won't Tax Your Mega Millions Winnings
California does not tax lottery winnings The winner has to be a California state resident to qualify for this exception If you're not a
California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not have lottery winnings withheld This means that only federal California California doesn't tax lottery winnings — that's good news if you win the Powerball jackpot, as Californian Edwin Castro did with
do pro poker players play with their own money The Golden State does not have a tax on gambling winnings per se Profits are simply treated as ordinary income Players can use the tax How winnings are reported to the IRS: Form W-2G · $600 or more if the amount is at least 300 times the wager (the payer has the option to reduce the winnings by
