Here's what the $1 billion Powerball winner could owe in taxes
Here's what the $1 billion Powerball winner could owe in taxes
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It depends on where you go You can get $2500month net of taxes and corrected for inflation with that amount, long term Of course the economy
Use the lottery tax calculator to estimate the tax amount deducted from a lottery prize, received as either a lump sum or through annuity payments Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no
lottery draw number The withholding rate for federal income tax is based, in part, on a claimant's resident status The Lottery is required to withhold federal taxes of 24% for Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax
