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

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Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,

That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and Question: My husband and I recently won the grand prize from my State's lottery Can you provide some guidance on how we will be taxed on our lotto winnings

poker rulez The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they Annual installments would pay an average of nearly $ million with a 37% federal marginal rate Lottery winnings are also subject to taxes in