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Two winners have 687.8 million Powerball Jackpot. Here is the tax bill



Of course, the two winners who share the $ 687.8 million Powerball jackpot will not end up with the advertised amount. Regardless of whether they divide their capital or annuity credits over three decades, federal and state taxes will consume a large part of their profits. Emagazine.credit-suisse.com/app/art … = 157 & lang = DE How much more is owed when they receive their taxes the following year, "said Jason Kurland, Partner at Rivkin Radler, a law firm in Uniondale, New York.

"All the numbers in these huge jackpots are breathtaking, and taxes are no exception," said Kurland, who helps big lottery winners to master their luck.

If the winners pay with immediate settlement, they would each start with 1

98.1 million (versus 343.9 million) they would get any if they chose the annuity). The federal government will scrape off 24 percent right away – and more will be due at tax time.


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