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

lottery payout after taxes
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However, the windfall shrinks dramatically after the IRS collects its share of the prize, and state taxes could further reduce winnings

Texas doesn't tax lottery winnings, so you'd have no further tax burden like winners in some other states who have to pay an additional 5% to 9%

lottery sambad 281023 Right off the bat, lottery winnings over $5,000 are subject to tax withholding of 24% Additionally, depending on how much you are taking home

lottery result seminar The winner may also face additional taxes from their state of residence, as some states like New York tax lottery winnings at %, while