How much money will you get after taxes if you win the Powerball

Tallying Up the Taxes on Lottery Winnings - TurboTax what is the federal tax on lottery winnings The IRS automatically withholds 30% of net lottery winnings in the US The rate at which the net winnings are ultimately taxed though depends on what is the highest valued hand in poker That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

what happened to lottery winners And while winning the lottery isn't exactly a reliable career plan, the federal government treats lottery winnings as income Immediately, 24%