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

The IRS charges a flat rate of 24% on all lottery winnings over $5,000 For example, if you won $1 million, you would pay around $240,000 in

Prizes and honors that have not gained official clearance is subject to a 30% tax Additionally, a cess rise in tax rate will be required The

how to choose a winning slot machine While lottery winnings aren't taxable, you may be subject to taxes once you've deposited the funds or if you give any winnings as a gift Let's

how many poker machines in australia Lottery winnings are considered ordinary taxable income for both federal and state tax purposes That means your winnings are taxed the same as your wages or