Do you have to pay taxes every year after winning the Powerball or

what is the federal tax on lottery winnings
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TDS Rate: The TDS rate for lottery winnings is 30% us 194B of the winning amount For game show winnings,

Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

what should i do if i win the lottery Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900

what''s the lottery The Internal Revenue Service imposes a federal tax rate of 24%, and California's state income tax, with rates ranging from 1% to %,