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The California Department of Tax and Fee Administration (CDTFA) is the public agency charged with assessing and collecting sales and use taxes, as well as a variety of excise fees and taxes, for the U.S. state of California. The department has several other ancillary functions, such as ensuring that sellers comply with permit requirements.
Under these laws sweepstakes became strictly "No purchase necessary to enter or win" and "A purchase will not increase your chances of winning", especially since many sweepstakes companies skirted the law by stating only "no purchase necessary to enter", [4] removing the consideration (one of the three legally required elements of gambling) [5 ...
For starters, expect to pay a minimum of $693,299 in taxes. She told us that because sweepstakes wins (whether they're cash or objects like cars and houses) are considered income, you have to pay ...
At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
The next drawing is Friday. Home & Garden. Lighter Side
Considering state taxes only, paying taxes on $100,000 of taxable income (adjusted gross income) would leave a single taxpayer or married taxpayer filing separately with $94,049, according to the ...