Can Lottery Winnings Be Inherited?

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While winning the lottery can be exciting, those jackpots can become a tax nightmare if you don't protect your winnings Lottery winnings are taxed as income

California is one of the few states where lottery winners can pay no state taxes  California law requires that the names of lottery winners be made public Many jackpot recipients would rather keep their good fortune private,

poker table accessories Yes, you do have to pay federal tax on California Lottery winnings However, you do not have to pay state or local taxes on any money you win playing the Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the