How much money will you get after taxes if you win the Powerball

how much tax is taken from lottery winnings
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While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The If the total $ billion payout is chosen: Federal taxes: $324 million; Take-home: $ billion If the cash option

slot gacor4d How much are lottery winnings taxed ? Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's