What would the $ billion Powerball jackpot's tax bill be in your
What would the $ billion Powerball jackpot's tax bill be in your
Gambling winnings are fully taxable and you must report the income on your tax return Gambling income includes but isn't limited to winnings from lotteries,
Lottery winnings are considered taxable income for both federal and state taxes Federal tax rates vary based on your tax bracket, with rates up to 37% Winning As most lottery jackpot winners do, the victorious group opted for a single lump sum, which amounted to $422m after taxes It undoubtedly stands
poker rules texas holdem The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37 While no government labels its lottery as a tax, lottery profits are an implicit tax tax policy in the and internationally For over 80
