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

Lottery Winnings FAQs tax rate on lottery winnings The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes tax on lottery winnings australia Lottery winnings are considered taxable income Besides the upfront withholding, your total federal tax rate could be higher—up to 37% If you

taxes on lottery winnings calculator The TDS of % is a flat tax on the winning amount; it will not be added to your income and you will not be able to benefit from your income tax rate slab