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.