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

The Texas Lottery says on its website that it must report pay outs over $600 if the winnings are 300 times more than the wager, or prizes over

State lottery laws regulate issues such as how the revenue is to be distributed, whether lottery prizes may be garnished (delinquent taxes, child support

taxes on $5 If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

taxes on 100 000 lottery winnings Unfortunately, unless it is the real Texas Lottery you won, you ARE dreaming They may say it is for taxes, processing fees, or the cost of transferring funds