What would the $ billion Powerball jackpot's tax bill be in your

All gambling winnings are taxable including, but not limited to, winnings from: Lotteries; Raffles; Horse races; Casinos

Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

tax rate on lottery winnings In addition to the states with zero income tax, despite having a general income tax California and Delaware do not impose a state tax on lottery

taxes on $5 California does not tax lottery winnings If individuals win the lottery in California, they are not required to pay state taxes on their winnings However,