What would the $ billion Powerball jackpot's tax bill be in your

federal lottery tax
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California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming do not have lottery winnings withheld This means that only federal

Lottery and Gambling Winnings · Withholding Rate from Gambling Winnings New Jersey Income Tax is withheld at an amount equal to three percent (3 Yes, lottery winnings are taxable under state and federal law In Pennsylvania, all lottery winnings are subject to the commonwealth's %

what is kicker in poker The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes This means you'll pay federal income taxes on your winnings, although the amount depends on how much you win, your other income, and your tax