Mega Millions, Powerball, Florida Lotto winnings: Lump sum or

The certainty of having liquidity on hand is probably why most winners choose the lump-sum payout This is an especially attractive option if

Mega Millions, Powerball, Florida Lotto winnings: Lump sum or Winners of Mega Millions and Powerball jackpots opting for the lump sum will get a lot less Around $ billion is

The certainty of having liquidity on hand is probably why most winners choose the lump-sum payout This is an especially attractive option if

why is the lottery taxed Without thoughtful planning, the lump sum could vanish swiftly, leaving you financially vulnerable Typically, lottery winners are not used to

50% CASH OPTION: ONE LUMP SUM PAYMENT PRIZE, Annual Payment Before Taxes, Annual Payment After Federal Income Tax Withholding* $1,000,000, $500,000, 380,000

why was the lottery created That's because when anyone wins the lottery, the IRS withholds 24% of the winnings off the top With a large jackpot, if the winner opted for the lump sum cash

The lump sum affords more control over winnings and investments, but higher taxes overall The annuity payment option means less initial