How much would the $ billion Powerball jackpot's tax bill be?

taxes on lottery winnings ohio   Dan taxes on poker winnings

Also taxable are gambling and lottery winnings reported on IRS Form W2G or Form 5754 Gross earnings are taxed in the year earned Pension and retirement

If you win more than $5,000 in the lottery or certain types of gambling, 24% must be withheld for federal tax purposes You'll receive a Form W- If you win money betting on sports from sites like DraftKings, FanDuel, or Bovada, it is taxable and reportable income Those sites should also send both you

harrah''s poker tournaments Before getting your winnings, you'd have to pay a 24% federal tax withholding, which the IRS requires for winnings over $5,000, CNBC explains  Ohio Oregon Subjected to taxation nonresidents ' gambling and wagering winnings taxes ) FY94 $ 1 93-1 94