Powerball Jackpot Winner Will Get a Hefty Tax Bill

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State Lottery winnings; Funds from unclaimed property If you believe the amount withheld was incorrect, call 1-800-676-5737 or write to us at:

What do federal taxes look like on a lump sum payment? The federal tax rate on any prize over $5,000 is 24%, which gets immediately deducted

lottery sri lanka How Much Are Lottery Winnings Taxed? · 24% withheld from $930 million = $232,200,000 · Additional amount you need to pay with a 37% tax rate: $111,900,000 · Total

lottery 30 tarikh The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn