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On top of that, there are state taxes, which vary wildly. Let's take a look at the best and worst states to win the Powerball jackpot. Florida_Powerball_iStock-537371126
Powerball winnings in California are subject to federal income tax only. Conversely, Powerball winnings in Puerto Rico are not subject to federal income tax, only local tax. There is no state income tax in Florida, South Dakota, Texas, Washington and Wyoming, and only on interest and dividends in New Hampshire and Tennessee. In all other states ...
The Powerball lottery set a record in November 2022, with a drawing worth $2.04 billion. It got over a third of the way there in February before a player in Washington state won the $754.6 million...
State lotteries have become a significant source of revenue for states, raising $17.6 billion in profits for state budgets in the 2009 fiscal year (FY) with 11 states collecting more revenue from their state lottery than from their state corporate income tax during FY2009. [10] Lottery policies within states can have conflicting goals. [11 ...
If you're buying a lottery ticket on the off chance that you might win the $1.9 billion ... Only seven states have no state income tax, according to Intuit TurboTax: Alaska, Florida, Nevada, South ...
€38.4 million (US$49.7 million) was the largest jackpot in the Netherlands draw of the Staatsloterij (State Lottery) in May 2013. €30,009,676 (US$31 million) was the largest jackpot in France 's SuperLoto, won in May 2006 by two tickets.
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico.
The record $2 billion Powerball jackpot made news, and not for the exorbitant prize or the extremely low odds of winning -- about 1 in 292.2 million. Early Tuesday, Nov. 8, while lottery players...