Colorado Lottery: The tax bill for the $ Powerball jackpot

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The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that winning ticket

Is the tax rate different for different lotteries? No All gambling winnings are treated equally This means if you win Mega Millions, Powerball or a state Powerball Jackpot Analysis ; Gross Prize: 30 average annual payments of $1,800,000 Cash: $25,900,000 ; - 24% federal tax: - $432,000 - $6,216,000 ;

today nagaland lottery result 1pm With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after This calculator can help you make that decision It calculates how much money you would receive from a lump cash sum or an annuity payout after