Colorado Lottery: The tax bill for the $ Powerball jackpot

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

Colorado Lottery: The tax bill for the $ Powerball jackpot The Tax Deduction at Source will be applicable to the lottery prize winners who win more than Rs 10,000 altogether through the lottery at

The Lottery Department shall withhold Virginia income tax at the rate of % on the proceeds from any lottery prize in excess of $5,000 The tax shall be

when were lottery tickets invented With the cash option in the Mega Millions jackpot, the winner would get a cash payout of $ million, or $ million after federal taxes

However, before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000 Out of the

when was the slot machine invented And for a large prize like the Mega Millions, that lump sum will also catapult you into the highest income tax bracket, so you'll pay the top

So if you're lucky enough to win, rest assured that your winnings are tax-free It doesn't matter how much you win or what game you play, you'll