Undoubtedly, many dream of winning the lottery, but few are the lucky to take large amounts of dollars home, as the recent Powerball winner who takes the jackpot of more than $1,000 million dollars, but the unpleasant part is that if you have to Paying taxesHowever, there are states that do not tax you for winning.
That is why on this occasion we will talk about those entities that do not tax lottery prizes, which is undoubtedly a great relief for the lucky ones.
After more than three months of no one winning the Powerball jackpot, a winner emerged in the draw held on July 19. The lucky one won more than $1,000 million dollars, which was right the six winning numbers: 7, 10, 11, 13, 24 and the red one, also 24.
Third largest Powerball jackpot
It’s the third-biggest jackpot in Powerball history and the sixth-biggest in US lottery history, according to the Multi-State Lottery Association.
The winner has the option of receive 30 annual payments and receive a total sum, which is approximately $558.1 million dollars in cash.
Where was the winning ticket sold?
The winning ticket was sold in Los Angeles California, in a store called Las Palmitas Mini Market, in the center of the city, according to the local lottery report. Although at the moment it is unknown who the winner is.
Lottery winners have to pay federal and state taxes, but there are states where no taxes are paidbut federal withholdings must apply.
States that do not tax lottery prizes:
- California
- Florida
- New Hampshire
- Dakota del Sur
- Tennessee
- Texas
- Washington
- Wyoming
So the recent Powerball winner who won over $1 billion you will not pay state taxes, since California does not tax lottery prizes, but you do have to withhold the federal lien.
The previous winner took almost 253 million dollars, the ticket was sold in Ohio; but the record is that of Edwin Casto, who last November matched all six Powerball numbers and won more than $2 billion dollars.
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2023-07-23 23:20:06
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