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

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

Here's the tax bill for the $875 million Powerball jackpot A: All persons who receive more than $1,000 on their bet, the tax will be deducted from their winnings in excess of $1,000 Q: Do I have to pay the tax to the

The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

when does the lottery play If your amount is higher, you might have to pay almost 40% as inheritance tax Is Lotto winning tax free? The winning amount is tax

That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

when is euro lottery drawn when they are exercised — it is difficult to present these stock options as simple incentives 6 Heads I win , tails you lose The basic and appealing

While winning the lottery is always exciting, it's essential to know that any US federal and state income taxes will still apply If you win the lottery and are