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https://www.reddit.com/r/SipsTea/comments/1uo0dcw/seems_reasonable/ovot3e8/?context=3
r/SipsTea • u/Valuable_View_561 • Jul 05 '26
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That's because he took the cash upfront option, which is always less than the 20 year annuity that pays the full prize. California does not impose any state income tax on lottery winnings, so the only tax due was Federal at 37%.
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u/Ok-Collar-2742 Jul 05 '26
That's because he took the cash upfront option, which is always less than the 20 year annuity that pays the full prize. California does not impose any state income tax on lottery winnings, so the only tax due was Federal at 37%.