Lump Sum or Annuity for Lottery Winners?

You won the lottery! What's your tax hit? - Business missouri lottery tax While lottery winnings of $600 or less are not reported to the IRS, winnings in excess of $5,000 are subject to a 25 percent federal withholding missouri online poker The highest federal tax bracket of 37% is assumed for this example because Mega Millions jackpot winners will immediately fall into this category We assume

missouri lottery pick 4 If last week's drawing was your lucky day, just know that the Ohio Lottery Commission will withhold 28% in income tax up-front (4% state and 24%