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Powerball jackpot analysis shows the net amount a grand prize winner would receive after federal and state taxes are withheld In states that calculate tax

Amounts won from a game show or lottery are taxable under Section 56 of the Income Tax Act, 1961 According to Section 194B winnings from lotteries, Calculate Mega Millions taxes in your state to see how much the lottery is worth after taxes with a lump sum payment or the annuity option

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