How much would the $ billion Powerball jackpot's tax bill be?
Winnings are subject to federal and state income taxes Most tangible prizes like cars and homes are taxed at their fair market value Lottery winnings are
Congratulations, You Just Won a Jackpot! Now Pay Up! - us tax on lottery winnings
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When a lottery prize is claimed by a group, family unit, club or other organization, the multiple winners will be required to file an Internal Revenue
usa lottery tax The federal tax rate that is paid as a non-resident winner is 30% on payouts above USD $600 The state tax can vary slightly as they are set locally US taxes
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