Would Lotto Winner Edwin Castro Get Hit With California Billionaire Tax?

California resident Edwin Castro is the biggest lottery winner of all time, after hitting a $2.04 billion Powerball jackpot in 2022. But would he be liable under a proposed California law to tax the wealth of billionaires?

The answer, it turns out, is complicated and far from clear. But Castro’s case highlights the difficulty of pinpointing a taxpayer’s net worth with precision under the…