Man realizes he won $4 million on lottery scratch-off while pumping

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If you take the lump sum option, there will be a federal tax of 24% on your winnings — about $ million You'd also owe more at tax time,

Lottery winnings, considered taxable income, are subject to both federal and state income taxes The Internal Revenue Service imposes a Lottery prizes are taxable If you win more than $600 it will be reported to federal and state tax agencies If you win more than $5,000, taxes

best slot machines at foxwoods According to http: com you'd get $74,896,000 with a lump sum payment after taxes  Generally, the federal government taxes prizes, awards, sweepstakes, raffle and lottery winnings, and other similar types of income as ordinary income, no