Lottery Jackpot IRS Tax Estate Planning San Diego

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If you win the $935 million Powerball, just how much would you have to pay in taxes? A lot · Saturday's Powerball jackpot rose to an estimated

Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment Lottery winnings are taxed as income The IRS will take 25% and as much as an additional 13% could be withheld in state and local taxes, depending on where you

poker river Lottery winnings that are more than $5,000 get a federal tax of 24%, therefore, you'll be cutting more than $12 million from the annual payments California does not tax California Lottery winnings, however it taxes lottery winnings from other jurisdictions For SuperLotto Plus and Mega Millions