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

how much does the government take from lottery winnings
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How much tax do you pay on lottery winnings? In the , if you win a lottery of $600 or less, you don't have to report it If you win more than $5,000, you

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher Starting in 2021 if you elected to itemize deductions on your federal return and deducted wagering losses from casual

wolves lottery If you take the lump sum payout of a sizable lottery jackpot, you will likely be pushed into the top tax bracket of 37%  This may be surprising, as other countries' tax collectors do take money from tax winnings How much Tax do you pay on Winning Lottery? You do