CA or AZ? The $ billion Powerball jackpot's tax bill depends on

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If the winner takes the payout, as many do, the federal tax would cut the prize by around $149 million In an estimate from USA Mega, an

In 2021, state and local governments in the United States collected about billion dollars by lottery In 1982, this value was much Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning

sign up to postcode lottery Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a