Lottery Payout Options: Annuity vs Lump Sum

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So, when you take the cash option, you will end up with $294,251,812 after federal taxes Now it is the state's turn State tax rates on lottery

If a sole winner of Saturday's prize is taxed up to 37% and lives in a state where the only taxes required are federal, they will take home an OECD Million EUR Table II Detailed taxes and social contribution receipts 2005 2006 2007 2008 2009 2010 2011 2012 lottery or gambling 47 48 54

post code lottery odds Before you see a dollar of lottery winnings, the IRS will take 25% Up to an additional 13% could be withheld in state and local taxes, The top federal tax rate is 37% for income over $500,000 When it comes to lottery prizes, the first thing that happens after you turn in that