Calculating Powerball Jackpot Payouts After Taxes: How Much Will

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However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the

California: No state tax on lottery prizes Your average net per year Although federal taxes are calculated according to marginal tax rates (graduated-rate Playback Rate Chapters Chapters Descriptions descriptions Monday's Powerball drawing was worth $ billion — the largest in history

freeroll poker tournaments The next step is to apply taxes The federal rate is 24%, although it might vary That's $ You also need to pay state tax If you are in Fourteen states don't levy additional tax on lottery winnings: Alabama, Alaska, California, Delaware, Florida, Hawaii, Nevada, New Hampshire,