why is the cash value of lottery less
Tallying Up the Taxes on Lottery Winnings - TurboTax
why is the cash value of lottery less
website why is the cash value of lottery less That may be a lot of money, but as a percentage of the advertised jackpot amount it's the lowest its been since at least 2003, just 44 percent why was the lottery created The winners had to split the prize three ways, all opting for a chunk of the $ million cash option, which worked out to about $
why is the cash value of lottery less The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax The cash option is significantly lower than the advertised jackpot, but it is paid in a lump sum You don't have to wait decades for all the
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