Lottery Payouts and Investment Annuities: What You Need to Know

how is lottery annuity paid out
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The IRS taxes lottery prizes differently depending on how the winner chooses to get paid You have two choices: lump sum payout or annual

With a $ billion prize, the first payment would be about $ million, of which approximately $ million would go toward taxes The IRS taxes lottery prizes differently depending on how the winner chooses to get paid You have two choices: lump sum payout or annual

bingo lottery ticket Though many believe the government keeps the money, annuity payments are generally passed to a winner's heirs if they die, according to Winners of the record-setting jackpot can opt for 30 annuity payments over 29 years, or choose to receive the prize all at once Unfortunately,