Powerball and taxes: What you have to pay if you win the $935 million

website taxes on lottery winnings in florida States with no state income tax, like Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax lottery winnings Other states like taxes on 100 000 lottery winnings Florida taxes on your lottery winnings FLORIDA — A lucky Powerball ticket holder in Florida could start 2024 with an

taxes on lottery winnings in florida 2 Charitable donations Donating some of the lottery money to charity will reduce your tax bill when you're a big winner That's because you can usually  The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

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