How much you'll pay in taxes for Powerball $ billion jackpot

How much you'll pay in taxes for Powerball $ billion jackpot federal taxes on lottery winnings
➡️【Mk.com】✅Play hundreds of ✅classic casino slots and live table games ✅ online, including blackjack and roulette. Join ➡️【Mk.com】 Casino and receive your exclusive ✅  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher federal lottery If your winnings are $600 or more, the lottery agency is supposed to give you a Form W-2G that you'll have to file with your federal income tax

federal lottery The IRS takes federal tax “off the top ” But the winner then pays additional federal income taxes based on the tax rate tied to their federal

federal tax on lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an