what are the taxes on lottery winnings in california
California State Lottery All prizes for Fantasy 5, Daily Derby, Daily 3, Daily 4, and non-jackpot SuperLotto Plus, Mega Millions, and Powerball prizes, are paid out in one payment, less 25% or 33% (depending upon the winner's tax documentation) Federal withholding if the prize is over $5,000. Merchandise prizes over $5,000 are subject to 33% Federal withholding. Scratchers tickets are generally one-payment prizes; however, some games have annuity options for payments each year, or per week. California does not tax California Lottery winnings, however it taxes lottery winnings from other jurisdictions.[47] For SuperLotto Plus and Mega Millions jackpots, the player may choose a single cash payout for a floating percentage of the jackpot, or an annuity. The SuperLotto Plus, Mega Millions, and Powerball payment schedule are on a graduated basis over 30 annual payments. Until 2005, when California joined Mega Millions, the payment choice on SuperLotto Plus had to be made when the ticket was bought. Since then, there is a 60-day window after winning, in which the choice of cash or annuity is to be made.
Luxury tax (sports) The resulting total is then distributed to the remaining teams that are under the tax threshold.
Mega Millions Mega Millions winners have either 180 days (California non-jackpot prizes only) or one year to claim prizes, including the jackpot (although some Mega Millions winners lose the right to collect a jackpot in cash if they wait more than 60 days after the drawing).
Premium Bond Winners of the jackpot are told on the first working day of the month, although the actual date of the draw varies. The online prize finder[3] is updated by the third or fourth working day of the month.