Powerball lottery jackpot: Here's how much you get after taxes

powerball lottery tax calculator
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Because the federal government counts lottery winnings as income, the winner could be moved into a tax bracket facing a tax rate as high as 37%,

If the winner takes the 30-year annuity payments, that's $756 million after tax, according to 's tax calculator That's good As my colleague Joe Henchman noted, a winner from a state with a 6 percent income tax who takes the lump sum would have $506 million in true

play legacy of egypt slot Powerball winners will face a tax rate of 37% First, before any taxes are paid, the federal government will withhold 24% of the winner's Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of