Powerball jackpot reaches $, but a winner wouldn't

powerball jackpot after taxes   Dan powerball may 13th 2024

Powerball jackpot now has a hefty tax bill waiting for them That's because lottery winnings are treated as income by the federal government

According to CNBC, these jackpot winners would then have to pay another 13% in federal taxes to satisfy the income tax requirement The Oregon How much will the jackpot be taxed in California? You get two choices when you win the jackpot — get paid annually or get a one-time cash payout

dhanu rashi lottery lucky number So in this scenario where just one person won the Powerball and selects that cash option, around $ million of Wednesday's estimated prize If the lump sum payout is chosen, the prize will drop to $ million after a mandatory federal tax withholding of 24% is applied Depending