How much of the $ billion Powerball jackpot is left after taxes?

tax on $1 million dollars lottery   Dan taxes on lottery winnings in texas

As previously mentioned, you have to pay federal income tax on lottery winnings Right off the bat, lottery winnings over $5,000 are subject to

Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a Net lottery winnings are the total amount of winnings that remain after subtracting the cost of the lottery ticket The exact amount of tax

how much is the mega million lottery Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax