How much taxes take from the $ billion Powerball prize
How much taxes take from the $ billion Powerball prize
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The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also
Lottery prizes of $5,000 or more are subject to federal income tax withholding As a result, if you win a jackpot worth that much, 24% of your The federal tax rate that is paid as a non-resident winner is 30% on payouts above USD $600 The state tax can vary slightly as they are set locally US taxes
kerala lottery result 1 month chart When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket and get your lump sum is that the federal Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900
