Powerball and taxes: What you have to pay if you win the $935 million

if you win 10 million in a lottery how much is taxed
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Taxes take a big bite out of your winnings According to the USA Mega analysis, the annuity would pay out $ million after federal income

This brings the total tax on game show winnings to % An additional 10% surcharge is also applicable on the winning amount if the amount is more than Rs 10 Here's how much you'll owe in taxes if you win the $1 billion Powerball jackpot they'll take home a fraction of the 10-figure total A

vinyl countdown slot Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another For example, the United States government imposes a 25% federal tax on any Mega Millions prize above $5,, while the jackpot is subject to a 39% federal