If I win the Powerball lottery in a state and live in another

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Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment

In Virginia, lottery winnings are subject to a tax rate of 4% Lottery Tax Rate Washington See Again, these are marginal tax rates — not all of the winnings are taxed at the top rate If you live in a big city, you will then need to deal

best nj online poker promotions Virginia, % ; Washington, No income tax ; West Virginia, % ; Wisconsin, %  Use this Lotto America tax calculator to work out how much cash you would be left with after a big win, once federal and state taxes have been deducted