How much would the $ billion Powerball jackpot's tax bill be?

How much would the $ billion Powerball jackpot's tax bill be? federal tax for lottery winnings
➡️【Mk.com】✅कैसीनो भारत में सबसे लोकप्रिय कैसीनो है✅, सबसे बड़े जैकपॉट के साथ, ऑनलाइन लाइव कैसीनो गेम खेलें, जैसे रूलेट, ब्लैकजैक और बहुत कुछ! अब शामिल हों। ✅  For winnings over $5,000, the payor must withhold a minimum of 28% for federal withholdings and up to 15% for state withholdings You will pay federal tax on lottery That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

federal tax on lottery Mega Millions after taxes The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or

federal tax rate on lottery winnings The same is true at the state level While lottery winnings are subject to state income tax in most states, withholding tax varies from zero ( Lottery winnings over $5,000 are subject to both federal and state income tax withholding—this is, part of your winnings are automatically paid