Mega Millions and Powerball jackpots soar to new heights Here's

The California Lottery is required by the Internal Revenue Service to withhold federal taxes on many prizes There is no California state or

Regardless of which option the player takes, the IRS takes a minimum 24% federal withholding tax upfront on lottery winnings That's a big chunk

what is a blind trust lottery In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

what is a slot back in football Lottery winnings also count as income, so by winning the jackpot, the ticketholder has been pushed into the 37% tax bracket for those with