If you won a $500 million jackpot in California and chose to take a

california lottery payout calculator
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Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments

Calculate Powerball taxes in your state to see how much the lottery is worth after taxes with a lump sum payment or the annuity option

california lottery mega millions Lottery winnings are taxed as income, so you would pay 37% federal tax, and between 0% to 13% state tax,

california lottery site Mega Millions and Powerball tax calculators to show you how much money lottery winners take home after taxes in each state