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

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These winnings are taxed under section 115BBJ of the Income Tax Act, 1961 According to Section 115BBJ, income in the nature of winnings from

However, winning the prize requires you to pay taxes on your winnings If you win Rs 10 lakh, you will have to pay a 30% tax on lottery Lottery winnings are not taxed twice Under both the federal and state tax system, they are considered ordinary taxable income You pay tax on your winnings

all free games online slot Powerball ticket—and hit a $ million after-tax jackpot Rosenau How much is enough?” Write to Jason Zweig at The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes