Powerball and taxes: What you have to pay if you win the $935 million

how much does the government take from lottery winnings
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In Pennsylvania, all lottery winnings are subject to the commonwealth's % state personal income tax, plus an additional 24% through federal

If you take the lump sum payout of a sizable lottery jackpot, you will likely be pushed into the top tax bracket of 37%  This may be surprising, as other countries' tax collectors do take money from tax winnings How much Tax do you pay on Winning Lottery? You do

people who won the food lottery Most prize winners pay a fixed federal income tax rate of 24% on their lottery winnings over $5,000 Federal prize withholdings are calculated on the amount of Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher