How much taxes take from the $ billion Powerball prize

How much money the $ billion Powerball winner will actually get how much does the irs take from lottery winnings Tax Tip: Before you receive one dollar, the IRS automatically takes 24% of your winnings as tax money Do I have to pay state taxes on lottery winnings if I how often does someone win the lottery Right away, 24% of that cash value is withheld for federal taxes and goes to the IRS, TurboTax explains So if the Powerball winner does select

how much are poker chips worth The tax applies to prizes greater than $5,000 In the case of the winning Powerball ticket, that's about $ million for the cash option But