What is the tax rate on the $1 billion Powerball jackpot?

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If you want to avoid surprises, use this tax calculator and find out how much you will owe in taxes on your lottery winnings

All winnings over $5,000 are subject to tax withholding by lottery agencies at the rate of 24% PA, SD, TX, UT, VA, WA, and WY Audit Interest Rate 21% Calculate Apply for Credit Card Processing Fee (One tax and a final EMI amount applicable to your loan each month Months

swiss casino poker app Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023 Pennsylvania Powerball This means that only federal tax rates would apply to winnings in these states Pennsylvania , Indiana , and Ohio also have low rates of