How much money will you get after taxes if you win the Powerball

website how much taxes is taken out of lottery winnings Under Act 84 of 2016, the Pennsylvania personal income tax of percent now applies to Pennsylvania Lottery cash prizes paid after January 1, 2016 how to apply for american visa lottery The federal government will take 24% off the top of lump sum winnings from a lottery jackpot Then it is the state's turn

how much taxes is taken out of lottery winnings After taxes, here's how much the $ billion Powerball winner will actually take home If the Powerball winner takes the lump sum, right away  Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,  Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

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