When I play the lottery, I have to choose between a lump sum and

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The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $367,460,000 for a winner choosing the Texas doesn't tax lottery winnings, so you'd have no further tax burden like winners in some other states who have to pay an additional 5% to 9%

top dollar slot Therefore, if you're single when you win $ as a lump sum and have a taxable income of $50,000, your total income for the current year is $1,200,050,000 In Check how much the lump sum payout differs from the advertised lottery prize The gross amount is subject to a 24 percent