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

lottery payout after taxes
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Lottery winnings are taxable The IRS considers them gambling winnings, and they're taxed just like regular income tax With the lump-sum payment, you would pay

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn  The CT Lottery is required by law to report and withhold federal income tax on all gambling winnings valued at more than $5,000 (Under certain

magnetisch slot binnendeur After these taxes are levied on the $ billion, the winner could be left with $ million of the total amount, according to CNBC Then So, when you take the cash option, you will end up with $374,954,812 after federal taxes Now it is the state's turn State tax rates on lottery