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Two Illinois lottery winners in a partnership claim $1.34 billion Mega Millions jackpotReply
I agree wholeheartedly that winners should be exempt from Federal taxes. What gets me, since I've been on both end of the spectrum is the disparity in taxation. When I win over $600 on the lottery, have to pay taxes end of the year. At the casino anything over $1199 then it gets taxed. Of course with the latter you can tell them 'No Federal taxes'. State is mandatory. I've always said take the taxes and be done with it. Not sure however if and when Federal taxes taken out are mandatory
Sep 22, 2022, 8:04 pm - Bleudog101 - Lottery News

$1.1 BILLION: Rush of Mega Millions lottery sales prompts officials to raise jackpot estimateReply
It is taxed because in America lottery wins are considered income. When you receive money here, it generally falls into three types of buckets: income, investment income, or gifts. They are all taxed to some degree, although with gifts you avoid taxes on the first $15,000 given to you in a year by someone. But this doesn't mean Americans are necessarily taxed more than people in other countries. For example, in other countries there are much higher income tax rates, VAT taxes, higher fuel ta
Jul 29, 2022, 6:18 am - Todd - Lottery News

$790 MILLION: Fourth-largest lottery jackpot in history to be drawn TuesdayReply
Pat taxes on it LOL
Jul 23, 2022, 6:32 pm - tlady4 - Lottery News

$630 MILLION: Mega Millions jackpot soars after no winner TuesdayReply
$388,000,000.00(minus taxes) is a reasonable/respectable amount to start early retirement with.
Jul 22, 2022, 7:10 pm - CDanaT - Lottery News

Mega Millions lottery jackpot highest in 18 monthsReply
How does 530 turn into 174 after taxes
Jul 17, 2022, 3:41 am - speeddmon - Lottery News

North Carolina Veteran "blessed" by $1 million lottery prize from second-chance drawingReply
So if he chose the annuity, how much would be the total payout after taxes?
Jun 17, 2022, 10:19 am - sam9009 - Lottery News

North Carolina Veteran "blessed" by $1 million lottery prize from second-chance drawingReply
Can someone explain the tax system to me and how this retired Veteran paid $574,000 in Federal and North Carolina State TAXES? That's on a $1,000,000 prize! I totally understand having to pay taxes upfront. But I always have understood that if I won a million dollars I would take home about $600,000, and I would thrilled. Looking at the Jackpot Analysis pages on USA Mega for both Powerball and Mega Millions, it says the initial federal withholding of 24% as well as the remaining federal taxes
Jun 14, 2022, 5:09 am - Cigarman - Lottery News

Miami man is Florida's newest millionaire after playing Jackpot Triple PlayReply
The after taxes amount has got to be around 1,210,669.74 in the UK
May 16, 2022, 3:27 pm - Clarkejoseph49 - Lottery News

Virginia University math major scoops up $1 million lottery prizeReply
Georgia just rolled out scratch taxes paid tickets too. IDC what folks say about the taxes, my feeling is 'are you better off with the win than before?' Their top prize is $2 million all the way down to $40K taxes paid so they advertise.
Jan 11, 2022, 7:29 am - Bleudog101 - Lottery News

16 Missouri coworkers split $1 million Powerball lottery prizeReply
That is a nice prize about $30,000 roughly after taxes.-weshar75
Dec 10, 2021, 3:49 pm - weshar75 - Lottery News