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For example, if the prize amount is INR 1 lakh (100,000 INR), the agent commission would be INR 10,000 (10% of the prize amount), the balance would be INR 90,000 (100,000 – 10,000 ...We show both the initial mandated federal withholding of 24% as well as the remaining federal taxes that will be due. The initial state withholding taxes are based on published guidance from each state lottery and the final state tax rates are from state government publications. Jan 5, 2016 · The calculator that follows will calculate the odds for the Powerball lottery, or any lottery, such as Powerball, based on the same formula of five regular balls and one extra ball. The defaults shown are the fixed prizes for all wins except the jackpot. The win for the jackpot shown is roughly the current jackpot amount. The formula based on an ordinary annuity is calculated based on PV of an ordinary annuity, effective interest rate, and several periods. 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