What would the $ billion Powerball jackpot's tax bill be in your

taxes on lottery winnings florida
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The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted from your winnings And for a large prize like the Mega

Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

taxes on lottery winnings texas The biggest payout to a single Powerball winner occurred in May, when an 84-year-old widow from Florida took her $370 million pretax payout at

taxes on 1 million dollars lottery winnings 3 Some states do not tax lottery winnings at all These states include California, Delaware, Florida, New Hampshire, South Dakota, Tennessee,