What is the tax rate on the $1 billion Powerball jackpot?

What is the tax rate on the $1 billion Powerball jackpot? does texas tax lottery winnings Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and the does pa tax lottery winnings Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out

does pa tax lottery winnings However, California is one of the 13 states that do not collect additional taxes on residents' lottery winnings Texas, Utah, Washington and

does qt sell lottery tickets The Texas Lottery shall withhold federal income tax, as required by law, on all prizes over $5,000 For promotional drawing dates, rules and other Texas is another state that won't tax your Mega Millions lottery winnings That's good news for the ticketholder who matched five white balls