How much of the $ billion Powerball jackpot is left after taxes?

is the lottery taxed
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For federal purposes, report your total winnings on your Form 1040 Schedule 1 and report all your losses (cost of buying all your tickets for the taxable

Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

slot sfinge gratis The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home