How much taxes take from the $ billion Powerball prize

With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after

All lottery winnings are subject to Federal taxation (automatically reported taxes The IRS requires a minimum withholding of 24% of the prize

lottery winning numbers tax laws are always changing Most of the time, those tax laws that do change will benefit the state or federal government and not the person paying the taxes

lottery sambad 154 24 8pm Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of