Mega Millions jackpot: Lump sum or annuity payout? What to know

annuity for lottery winners
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The $ billion prize would be paid annually over 29 years if the winner picks the annuity option If the winner opts for cash, they would

Lottery winnings are taxable The IRS considers them gambling winnings, and they're taxed just like regular income tax With the lump-sum payment, you would pay Powerball allows the grand prize winner to decide how he or she wants to get the money — either by choosing an annuity where the jackpot is paid

free slots com video poker If your client won a billion-dollar lottery, do you know what you would encourage them to do? For instance, a $ billion jackpot winner Lottery winnings are taxable The IRS considers them gambling winnings, and they're taxed just like regular income tax With the lump-sum payment, you would pay