How much do you pay in Pennsylvania taxes on lottery wins?
Winnings are taxed the same as wages or salaries are, and the total amount the winner receives must be reported on their tax return each year Before the winner
How much would the $ billion Powerball jackpot's tax bill be? how much lottery tax
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The federal government withholds 24% of your winnings immediately You may owe additional federal taxes depending on your overall tax bracket Each state also
how rare is it to win the lottery Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes,