How much would the $ billion Powerball jackpot's tax bill be?

tax on lottery winnings texas
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Winnings from lottery and gambling activity must be reported on your tax return and are fully taxable by the IRS and most state governments The

States with no state income tax, like Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax lottery winnings Other states like

taxact lottery calculator Under Act 84 of 2016, the Pennsylvania personal income tax of percent now applies to Pennsylvania Lottery cash prizes paid after January 1, 2016

tax on lottery winnings usa Lottery winnings of $600 or less are not reported to the IRS; winnings in excess of $5,000 are subject to a 25 percent federal withholding