What is the tax rate on the $1 billion Powerball jackpot?
What is the tax rate on the $1 billion Powerball jackpot?
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For example, winners in a high-tax state such as New Jersey would have to pay a % top marginal rate in state taxes alone If a New
State Income Taxes on Lottery Winnings Eight states do not tax lottery winnings — but the tax rate on lump-sum or annuity payments varies in the others States The winnings are subject to federal income tax withholding The tax withholding rate is 24% for lottery winnings, less the
california lottery mega millions winning numbers A smiling surprised woman in a brown shirt, sitting behind her desk and using her Calculators · Lottery Tax Calculator: How Your Winnings Are Taxed 8 minute Your state will tax the winnings too, unless you live in a state that does not impose a state-level income tax The tax rate will be determined by your income
