Powerball Jackpot Winner Will Get a Hefty Tax Bill

Powerball Jackpot Winner Will Get a Hefty Tax Bill if you win the lottery is it tax free Although the winnings itself is tax-free There are some taxes to pay after you get the winnings The tax people always get their cut, doh! if i win the lottery do i have to share with my spouse Yes Gamblinglottery winnings are subject to Michigan individual income tax to the extent that they are included in your adjusted gross income The Michigan

if i win the lottery do i have to share with my spouse The good news is there is no income tax on lottery winnings here in California California is one of the eight states that does not require

if you win lottery Depending on your filing status and the taxable income , you are subject to a 10-37% tax rate If your prize is over 10 lakh However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30