Curious question about powerball winnings and taxes is there a tax area on here https://www.lotterypost.com/thread/312768 Lottery Post Forum Topic: Curious question about powerball winnings and taxes is there a tax area on here en-us Lottery Post RSS Generator Reply #1 https://www.lotterypost.com/thread/312768/5102993 https://www.lotterypost.com/thread/312768/5102993 Sun, 21 May 2017 06:40:53 GMT whiteballz There are tax brackets for federal income tax. http://www.bankrate.com/finance/taxes/tax-brackets.aspx

For 2016 only income over $415K is taxed at the 39.6% rate. Trump has promised a tax cut but whether or not he will deliver on his promise is anyone's guess.

]]> whiteballz Curious question about powerball winnings and taxes is there a tax area on here https://www.lotterypost.com/thread/312768 https://www.lotterypost.com/thread/312768 Sun, 21 May 2017 06:00:05 GMT wander73 Okay so 4 numbers plus powerball is $50k. So the lottery takes 40% correct and for example everyone knows where I am from Philadelphia, PA the commonwealth takes what 4% taxes correct. Which would leave about $30000. Is this correct or is it $28500

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