What's better for lottery winners, lump sum or annual payments?
What's better for lottery winners, lump sum or annual payments?
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With a lump sum, the winner receives all the money at once, after taxes are withheld
lump sum income that is received as a reimbursement for a specified item and used to pay for such item shall be considered a noncountable asset Most lotteries allow winners to choose between two different options: a cash lump sum or an annuity Whether the winner goes with the annuity or the cash option
what is the conflict of the lottery On an estimated lump sum of $ million before taxes, the federal withholding is estimated to be $ million if 24% is withheld That Lump sum payout is calculated by the Lottery and will always be smaller than the total of the annuity payments This is due to numerous reasons, for example,