What Tax Reform Means For the Next Lottery WinnerPrev TopicNext Topic

• Soviet

  

  Texas
  United States
  Member #171,448
  January 8, 2016
  28 Posts
  Offline
  Jan 4, 2018, 2:19 am

  ▲▼

  http://money.cnn.com/2018/01/03/news/powerball-mega-millions-tax-reform/index.html

   

  I had barely even noticed because I've had a busy week, but it's actually 2018 now!!  Which means that the next big lottery winner will be taxed according to the new tax rules passed by the Republicans a few weeks ago.  As it turns out, it'll be a darn nice chunk of change.

   

  An extra $7.57 million for Powerball & $6.79 million for Mega Millions at yesterday's jackpot totals.  Not too shabby at all.
• Redd55

  

  United States
  Member #164,717
  March 12, 2015
  1,300 Posts
  Offline
  Jan 4, 2018, 4:51 am

  ▲▼
  In response to Soviet

  Quote: Originally posted by Soviet on Jan 4, 2018

  http://money.cnn.com/2018/01/03/news/powerball-mega-millions-tax-reform/index.html

   

  I had barely even noticed because I've had a busy week, but it's actually 2018 now!!  Which means that the next big lottery winner will be taxed according to the new tax rules passed by the Republicans a few weeks ago.  As it turns out, it'll be a darn nice chunk of change.

   

  An extra $7.57 million for Powerball & $6.79 million for Mega Millions at yesterday's jackpot totals.  Not too shabby at all.

  It's great!  Here's an article that explains in detail the new tax brackets:

  https://www.doughroller.net/taxes/federal-income-tax-brackets-deductions-and-exemption-limits/