Florida lottery ticket hits $ billion jackpot, nets $ million

lottery payout after taxes
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If you take the smaller one-time Powerball cash payout with a 24% federal tax and a 4% state tax in Ohio, you could only take home around $360

the additional tax attributable to the lottery winnings could be as much as 37% of the total (since the top Federal rate is 37% — not % as

lottery sambad 2511 23 Taxes take a big bite out of your winnings According to the USA Mega analysis, the annuity would pay out $ million after federal income

lottery sambad 28102023 The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes