How much would the $ billion Powerball jackpot's tax bill be?

american lottery tax
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For non-resident aliens, current tax laws require that the Lottery withhold 30 percent in federal income taxes on all Lottery prizes and percent in

The top federal tax rate is 37% for income over $500,000 The first thing that happens when you turn in that winning ticket is that the federal Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

initial poker wagers While the largest lottery prizes in the early history of state lotteries Unlike in the United States, where lottery wins are taxed, European The winner of the lottery jackpot that currently sits at $ billion would expect to pay at least $135 million in federal income taxes if they