Instead, you are looking at the taxes that would be withheld if the jackpot were won today. The states modify their tax withholding rates from time to time, and this chart is accurate as to our latest information we could track down. Please verify all information with your local government tax agency.
If you are aware of a percentage being out of date, please contact us to let us know, and we will update it.
It is possible that the tax rate provided above is outdated, although we try not to let that happen. If you are viewing the Jackpot Analysis for a past drawing date, keep in mind you are viewing the application of the current tax rates against past jackpot amounts.
State lotteries typically deduct other amounts from prize payments, such as child support payments, back taxes owed, outstanding student loans, and other government agency responsibilities.
New York City 3. Important Notes The jackpot numbers are estimates rounded to the nearest million dollars. Please only contact us about lottery withholding rates, not the state income tax or sales tax rate.
Consult with your local government tax authority for more information if you are not a U.
The state tax rate withheld by the lottery at the time the prize is awarded is oftentimes different than what you would expect to be withheld "standard" state tax rates.
If the tax rates for a state have changed since that drawing date, the report is not an accurate snapshot of the taxes that would have been withheld on that date in history. The chart above provides the information that we know for sure: If you win the jackpot, consult a good accountant and tax attorney for ways to minimize your tax liability.
There are many ways to reduce the tax burden, which is why it is so important to obtain the services of a top-notch professional accountant before claiming the big prize. The jurisdiction in which you live may impose additional local taxes, beyond those listed here.
All of the tax amounts listed above are the taxes withheld at the time of the prize award, not your exact final tax burden. If you are not a U. Consider donating a substantial amount to the owner of this Web site, because he gave you such great advice when you needed it most.
For example, someone who gives away a large amount to charities would have a vastly different tax burden than someone who buys new cars and houses. Therefore, questions about the purpose of the withholding should be directed to the IRS Jan 20, · Powerball officials drew the winning numbers for an estimated $50 million jackpot Wednesday night, one week after a world-record $.
CBS News January 13,PM. Inside the room where Powerball numbers will be drawn. Share; But by the time it is over, someone could be worth a Powerball killarney10mile.comd: Sep 18, Aug 24, · Tonight on Nightly Business Report, Hurricane Harvey strengthens and is threatening to strike the center of the U.S.
energy industry. Plus, health care costs in retirement are rising and are. The Powerball winning numbers for January 20,are in, and the thrill of the game is mounting like the jackpot that rolled over last night. The winning numbers are 5, 39, 44, 47, 69, and the Powerball is Jan 20, · ST LOUIS (LALATE) – Powerball winning numbers for January 20, results have finally been relapsed tonight.
This evening’s Powerball 1/20/16 winning numbers are carrying a $50 million draw along with a $32 million cash value. Powerball Jackpot Analysis for Wed, Jan 13, Media: You may freely use any information on this page, but you must credit killarney10mile.com Read the Notes about this page.
Be sure to review the Important Notes section at the bottom of the page, which provide additional information regarding the numbers presented here.Download