What would the $ billion Powerball jackpot's tax bill be in your

So, when you take the cash option, you will end up with $446,014,045 after federal taxes Now it is the state's turn State tax rates on lottery

What would the $ billion Powerball jackpot's tax bill be in your That's because lottery winnings are treated as income by the federal government and most states, so the jackpots are subject to state and

So, when you take the cash option, you will end up with $446,014,045 after federal taxes Now it is the state's turn State tax rates on lottery

tax rate on lottery winnings A mandatory federal tax withholding of 24% will be applied to the lump sum, leaving the winner with $ million Depending on the winner's

Meanwhile, other states have tax rates for lottery winnings that generally range from about 3% to almost 11% But in any case, once applicable taxes are taken

taxes on $2 million dollars lottery winnings A rough guess is you would pay about $1,000,000 in federal taxes and up to several hundred thousand dollars in state income tax, depending on

In inflation-adjusted dollars, state and local government revenue from $1 million in South Dakota and Wyoming to $144 million in Pennsylvania and