https://www.lotterypost.com/news/80943 Lottery Post News Story: Ruling taxes lottery winner at higher rate en-us Lottery Post RSS Generator https://www.lotterypost.com/news/80943/172901 https://www.lotterypost.com/news/80943/172901 Wed, 04 Feb 2004 13:19:33 GMT CASH Only He SHOULD have chosen the lump sum when he played (it WAS available back then).

]]> CASH Only https://www.lotterypost.com/news/80943 https://www.lotterypost.com/news/80943 Wed, 04 Feb 2004 10:33:56 GMT Lottery Post An Oregon Lottery jackpot winner is going to have to pay a higher tax rate after a federal appeals court rejected his argument the prize money should be taxed like an investment at the lower capital gains rate.J. Michael Maginnis won a record $23 million jackpot in July 1991 that he divided among himself, his wife and their three sons.Maginnis chose to receive his $9 million share in 20 annual installments, a typical payment schedule at the time for state lotteries, which purchase an annuity for... [ More ]

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