Powerball jackpot is $ billion If you win, here's the tax bill

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There's no tax to pay when you win the lottery! Result! However, you might have to start paying tax when your winnings start making you money

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new jersey winning lottery For example, if a winner opts for the cash lump sum payment, they would be subjected to a federal income tax at the top tax rate, which is 37 Lottery winnings are not currently taxed in the UK & Ireland La There is a tax rate of 20% on lottery winnings exceeding the equivalent of €40,000