How much money will you get after taxes if you win the Powerball

what taxes do you pay on lottery winnings
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How much do I pay in taxes if I win 1,000,000? If your gross prize for lump sum payout is $1,000,000, you need to pay $334,072 in total tax ($240,000 federal

As per section 115BB of the Income-tax Act,1961, the entire income from winning lotteries, games show, etc will attract tax at the rate of 30%  Winnings are reported to federal and state tax agencies, and tax rates are based on taxable income What to know if you hit the jackpot: Here

monkey paw for slot machines Congratulations! You're a lottery winner Now you're probably wondering, is my prize taxable? In Australia, lottery winnings are classified as tax-free How much of a prize is taken out for taxes? The winnings are subject to federal income tax withholding The tax withholding