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

when you win the lottery how much goes to taxes
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Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

Lottery taxes are really high, so if you think you will ever win this is how much money you would At the highest tax band, winnings may be taxed by as much as 38% However, there are strategies you can implement to buffer your winnings from

princess slot demo You'll still be taxed on your portion of the prize if everyone splits it Make documentation that the entire win is not just yours to avoid gift tax Have a There are also additional federal taxes of about 37% In total, you'll be paying more than $19 million Your total annual payment in California