Here's what the $1 billion Powerball winner could owe in taxes

do you have to pay tax if you win the lottery
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Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another

The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that

dog house demo slot Prizes and winnings are always taxable once they are in the winner's possession The reward would be subject to tax according to Section 56 and

dolphin slot machine game The prize is taxed if a person takes the annuity option − which is what the advertised jackpot figure represents − or the lump sum A 2018 USA