Lottery Tax Calculator: How Your Winnings Are Taxed

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money should you win The best you can really do is just play lots and lots of times and

The federal government will immediately take $169,896,000 from that cash option Remember, the rest of your federal tax bill comes next Then there are the taxes The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $575,016,000

arizona lottery powerball payouts If you win a million in the Powerball you get a million, minus taxes Some scratch-off games with sufficiently high prizes also offer the choice Other advice you could seek out is from former lottery winners who know the experience of taking home a lot of money Ontario Lottery and Gaming