How much money will you get after taxes if you win the Powerball

Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%

lottery ticket movie shoes Lottery winnings over $5,000 are subject to both federal and state income tax withholding—this is, part of your winnings are automatically paid

lottery jackpot calculator Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you