Powerball jackpot hits $1 billion—after-tax payout in every state

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And eight states don't charge income tax on lottery winnings: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and

Annuity Payment Schedule California: No state tax on lottery prizes Your average net per year: $4,304,812, Your net payout: $60,521,812 After 30 payments Use our Mega Millions Payout and Tax Calculator to calculate both annual and lump-sum payouts after federal and state tax deductions

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