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<blockquote data-quote="Allen" data-source="post: 337955" data-attributes="member: 389">I've always said, if everyone had to pay taxes on a quarterly basis instead of having it withheld, tax rates in this country would be a lot lower overall.&nbsp; Phil Mickelson paid 61% for winning a couple of tournaments in Great Britain.&nbsp; So maybe California's tax rates ain't so bad?&nbsp; :;:huh- - - Updated - - -I didn't think it's that clear cut.&nbsp; I thought for sure some states will tax you for earnings/winnings in their state even though you aren't a resident of that state, as I believe California does for winning an event there (too much gameshow money for them to not do it in their eyes).&nbsp; But you then get to deduct the taxes paid to California from your home state income tax obligations.&nbsp; And I am pretty sure this changes state by state.At least, that was my understanding from years ago.&nbsp; Maybe it's been stream-lined a little since then.</blockquote>

[QUOTE="Allen, post: 337955, member: 389"] I've always said, if everyone had to pay taxes on a quarterly basis instead of having it withheld, tax rates in this country would be a lot lower overall. Phil Mickelson paid 61% for winning a couple of tournaments in Great Britain. So maybe California's tax rates ain't so bad? :;:huh [COLOR="silver"][SIZE=1]- - - Updated - - -[/SIZE][/COLOR] I didn't think it's that clear cut. I thought for sure some states will tax you for earnings/winnings in their state even though you aren't a resident of that state, as I believe California does for winning an event there (too much gameshow money for them to not do it in their eyes). But you then get to deduct the taxes paid to California from your home state income tax obligations. And I am pretty sure this changes state by state. At least, that was my understanding from years ago. Maybe it's been stream-lined a little since then. [/QUOTE]

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