The California Lottery recently published an updated version of their Winner’s Handbook, which provides information to lottery winners on a variety of issues relating to their winnings – including tax information reporting.
There is one change to the most recent version of the Winner’s Handbook, which is as follows:
- The withholding rate on lottery winnings has been adjusted to 24% for U.S. Citizens and Resident Aliens providing a social security number, and 24% for U.S. Citizens and Resident Aliens not providing a social security number.
- These rates were previously 25% with a SSN, and 28% without a SSN.
To review this Handbook in full, please click here.
About the Author
Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.More Content by Paul Ogawa