Those Billion-Dollar Lottery 'Jackpots' Aren't Even Half That Big

how much money do you actually get from the lottery
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The federal government will immediately take $142,824,000 from that cash option Remember, the rest of your federal tax bill comes next

With a large jackpot, if the winner opted for the lump sum cash value, they would be subject to federal income tax at the top tax rate, which is 37% (So after If you choose to get a lump sum payout for the $ billion, expect $ million in cash, according to the USA Mega website State Farm states

multiplayer slot games And the main tax implication surrounding money gifts is inheritance tax £3000 annual gift allowance  So basically, the person who wins a prize money of Rs 25 crore, will eventually be deducted a total of Rs 12,11,74,000 and hence be left with a