$ billion Powerball winner to pay $0 in California taxes

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California California doesn't tax lottery winnings — that's good news if you win the Powerball jackpot, as Californian Edwin Castro did with

All gambling winnings are taxable including, but not limited to, winnings from: Lotteries; Raffles; Horse races; Casinos Federal lottery taxes are determined by the income bracket the winnings fall into Currently the two highest income brackets are taxed at 37%

kerala lottery result kn 524 taxes, which reduce the payout by more than a third However, California is one of eight states that do not tax Powerball winnings Castro Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax