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

Do I need to pay tax on my winnings? taxes on 1 million lottery The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in taxes for lottery winnings Taxes, All Sites taxesquestionsiitaccordiontaxableare-gambling-lottery-winnings-subject-to-michigan-individual-income-tax-1 Back to Taxes

taxes on lottery winnings in texas Lottery winnings are taxed, with the IRS taking taxes of up to 37% Curiously, though, only 24% is withheld and sent directly to the IRS