How much $1B Powerball winner takes home after taxes

website powerball jackpot after taxes If you win the Powerball and take the lump sum payment, right away, nearly a quarter of it is withheld for federal taxes And you're not off the powerball kansas Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

powerball jackpot after taxes You don't have to win the big jackpot to owe lottery taxes Your winnings are considered taxable and are added to your ordinary income when  Then there are the taxes The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $363,432,000  After federal taxes were paid, an annuity winner would take home There is no additional state tax on lottery winnings in Texas If

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