Here's the tax bill for the $875 million Powerball jackpot

federal lottery tax rate
➡️【Mk.com】✅Immerse yourself in the world of old-fashioned games such as roulette✅, blackjack, poker and slot machines in the atmosphere of the Belle Époque. ✅  Dan federal tax on lottery

Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million The lottery tracking group estimated a

can child support take lottery winnings By law, non-resident aliens are subject to a flat 30% federal tax withholding and a % Connecticut Key Takeaways · You are taxed on anything you win, whether it's cash, an item, a trip, or a service · Winnings are subject to federal and state income taxes