What is the tax rate on the $1 billion Powerball jackpot?

lottery tax in usa
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In fact, lottery winnings are taxed, with the IRS taking up to 37% Curiously, though, only 24% is withheld and sent directly to the government

State tax rates can range from about three per cent to 11 per cent, while some states don't tax lottery winnings at all The lottery is open

lottery bdg State Lottery winnings; Funds from unclaimed property If you believe the amount withheld was incorrect, call 1-800-676-5737 or write to us at:

lottery scratch off codes The federal tax rate on lottery winnings is fixed at 24% for any amount over $ Though the initial withholding by the lottery organization