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

how much does the irs take from lottery winnings
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How much will the lottery winner pay in taxes? The IRS views lottery winnings as ordinary income The top tax bracket for the highest earners

The reason for this is because lottery winnings are taxed as income by the federal government as well as most states So, how much will New The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also

how to play video poker in vegas If you win the Mega Millions jackpot in California, you'll be happy to know that there are no taxes on lottery winnings in the state That's Lottery winnings are deemed regular taxable income for both federal and state tax purposes Most of the winners go with the immediate,