How much $ Powerball winner takes home after taxes

how much does the government take from lottery winnings
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All prize winnings are subject to federal and state income tax withholding State tax of % is automatically taken out for payouts $2,000 or more Payouts

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

how many people win the lottery a year The federal government receives a sizable chunk of revenue after the lottery announces a winner because there's a mandatory 24% federal

how to play poker for dummies While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's