Powerball and taxes: What you have to pay if you win the $935 million

website 1 million lottery win after taxes Use the lottery tax calculator to estimate the tax amount deducted from a lottery prize, received as either a lump sum or through annuity payments 100cuci slot State lottery winnings means lottery winnings from a wager placed in a state-conducted lottery where the wager is placed with the state agency conducting

1 million lottery win after taxes The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require  The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in  After the 24% withholding, the winner could still owe another 13% in federal taxes, or about $70 million Marginal tax brackets for tax year

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