Lump Sum or Annuity for Lottery Winners?

Lump Sum or Annuity for Lottery Winners? if you win 10 million in a lottery how much is taxed A: All persons who receive more than $1,000 on their bet, the tax will be deducted from their winnings in excess of $1,000 Q: Do I have to pay the tax to the if i win the lottery what should i do The payer will deduct 24% from your winnings on the spot if you win above a certain amount · You'll report your winnings and your tax payments when you file

if i win the lottery what should i do California does not tax lottery winnings If individuals win the lottery in California, they are not required to pay state taxes on their winnings However,

if i ever won the lottery meme The prize is taxed if a person takes the annuity option − which is what the advertised jackpot figure represents − or the lump sum A 2018 USA A mandatory 24% federal tax withholding on that amount would reduce your winnings by $ million However, because the top federal marginal