How much $ Powerball winner takes home after taxes
How much do I pay in taxes if I win 1,000,000? If your gross prize for lump sum payout is $1,000,000, you need to pay $334,072 in total tax ($240,000 federal
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Since the tax withholding rate on lottery winnings is only 24%, some lottery winners do not plan ahead, and can have trouble paying their taxes
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