How much $1B Powerball winner takes home after taxes

taxes on lottery winnings texas
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Texas does not tax Lottery winnings You will report the winnings on your Federal taxes and pay according to whatever tax bracket your winnings The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require

majestic slot Lottery winnings are considered taxable income, and the IRS requires winners to report their winnings on their tax returns The federal tax rate The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes