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

how much is lottery tax
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Before winners even see a penny of their jackpot, the federal government withholds a mandatory 24% that goes to the IRS The tax applies to

How it works: Ohio lottery winnings over $600 are taxed as income If I won today's $550 million jackpot, I'd pay 24% in federal taxes, plus 4% XIII of 2004), to revise the provision for the levy and collection of Sales Tax on the sale of lottery tickets in the State of Maharashtra The substituted

1000 a week for life lottery Amounts won from a game show or lottery are taxable under Section 56 of the Income Tax Act, 1961 According to Section 194B winnings from lotteries, A mandatory federal tax withholding of 24% will be applied to the lump sum, leaving the winner with $ million Depending on the winner's