How much would the $ billion Powerball jackpot's tax bill be?

us lottery tax
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Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment

While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding

us lottery winner That's because lottery winnings are generally taxed as ordinary income at the federal and state levels In fact

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