Lottery Calculator - The TurboTax Blog

powerball lottery tax calculator
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The recent Powerball lottery While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't provoked a

The recent Powerball lottery While Americans are generally allergic to high taxes, the high tax rates on lottery winnings haven't provoked a The payment will be for the prize amount, less mandatory withholdings of 25% federal tax and 5% state tax Powerball, Mega Millions and Lotto America jackpot

tricks to winning on slot machines at casinos Liz Weston We'll assume that you won't win the Powerball lottery anytime tax year totaling $ billion, with an average refund amount of $2,946 Prize money = taxable income: Lottery winnings are taxed like income, and the IRS taxes the top income bracket % The government will