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

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

The federal tax on the lottery is determined by the federal marginal rates, which is 37 percent in the highest bracket In practice, there is a 24 percent

tax on lottery 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

taxes on lottery winnings Out of the $ million cash value, that would be about $ million you'll lose up front However, because you'd bumped into the top tax