How much would the $ billion Powerball jackpot's tax bill be?
How much would the $ billion Powerball jackpot's tax bill be?
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Then, you have to subtract federal and state income taxes The highest federal income tax rate is percent; the state rates will range from
Of course, once you get the annuity checks, you'll have to pay income tax on them But if you take the lump-sum cash prize, you'll pay tax twice The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in
reseña slot gemix When it comes to federal taxes, lottery winnings are taxed according to the federal tax brackets Therefore, you won't pay the same tax rate on the entire Lottery winnings are not taxed twice Just like a raise in wage, some people who win a significant prize may move into a new, higher tax bracket that may adjust
