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

Florida lottery ticket hits $ billion jackpot, nets $ million 1 million lottery after taxes Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or 19_03_24 lottery result Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

18_1_24 lottery result The withholding rate for federal income tax is based, in part, on a claimant's resident status The Lottery is required to withhold federal taxes of 24% for