SNAP Reporting of Lottery and Gambling and Resource Verification

Although I am not a tax professional, and in this case you would be better off with a professional advice, my understanding (at least of

If the jackpot winner chooses the lump sum, they will get about $783 million before taxes The prize must be claimed in person at the Florida

taxes on 1 million dollars lottery winnings Lottery winnings and prizes are considered income by the IRS and are subject to federal and state income tax You'll owe taxes in the year

taxes on lottery Seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming — don't have income tax, so big winners in those states