Directive 86-24: Lottery Winnings; Lottery Tickets -

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Lottery winnings are considered taxable income for federal tax purposes and your winnings are taxed the same as your wages or salary Most prize winners pay a

Example: If you won $10,000 but lost $15,000 You may deduct $10,000 California lottery We do not tax California Lottery or Mega millions  Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

模特兒av Note: The implicit tax revenue is the portion of lottery revenue kept by the state, or the “profit ” It does not include federal or state income In the United States, the taxation of lottery winnings varies from state to state While some states impose taxes on lottery winnings, others do not