How much $ Powerball winner takes home after taxes

website how much is federal tax on lottery winnings If you are a nonresident alien of the use Form 1040NR Nonresident Alien Income Tax Return to report lottery and gambling winnings How are how much is a spanish lottery ticket “The IRS is required to withhold 24% from the winnings, but that doesn't mean whoever wins and chooses the lump sum option is done paying taxes,

how much is federal tax on lottery winnings If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding  California lottery We do not tax California Lottery or Mega millions Visit Schedule CA Instruction 3s for more information How to report   While you don't have to report lottery winnings of $600 or less, if you win more than $5,000, the government will hit you with a 24 percent federal withholding

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