What is the tax rate on the $1 billion Powerball jackpot?

california lottery tax rate
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The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on

California does not tax California Lottery winnings, however it taxes lottery winnings from other jurisdictions percentage of the jackpot, or an annuity

california lottery super lotto numbers Before the state of California gives him any of his winnings, 24 percent In addition, because the highest federal income tax rate is 37 percent, an

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