This Michigan couple spotted a lucrative lottery loophole

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The lottery winnings are taxable income in the state where you bought the ticket The taxes you pay to that state on the winnings are eligible

The lottery annuity calculator helps you estimate the yearly annuity payouts and any applied taxes for a given lottery jackpot  General information about raffles, rules and forms can be found at State of Michigan, Michigan Lottery, Charitable Gaming Division at cg

pick lottery numbers for me Are gamblinglottery winnings subject to Michigan individual income tax? · Residents: report the amount of wagering losses you deducted on Form 1040 Michigan Lump sum: $303,657,045; Annuity: $588,611,340 Minnesota Lump sum: $274,716,245; Annuity: $532,611,360 Mississippi Lump sum