Powerball Jackpot Winner Will Get a Hefty Tax Bill

what is the lottery tax
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States rely heavily on lottery revenue, collecting an average of $58 per person in “profit” aside from any income tax collections To the extent

The winner of the $ billion jackpot has hefty taxes coming IRS withholding takes $187992000 up front, and $101829000 more is due April The state of South Dakota does not tax lottery winnings How can I hear about daily updates, special promotions, and jackpot winners? There are a few

poker dealer The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37 Q: Are lottery prizes subject to taxation? A: Effective August 13th 2018, lottery winnings are subject to taxation ; Q: What is the rate of tax? A: Ten percent