So you won the Mega Millions lottery jackpot What happens now?

how do lottery payouts work
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Lottery prize money is generated by ticket sales The more people that buy tickets — and the longer it goes before somebody wins the jackpot —

Either way, be prepared for a huge tax bill yourself Lottery winnings are taxed as income The federal tax on big winnings nears 40% And, of

how do you play basic poker Where you reside would determine if you must also pay state income taxes Typically, lottery winnings are considered ordinary income for tax

how long does it take to get lottery winnings from mega millions They are backed by the state lottery commission, which purchases annuities from insurance companies to ensure the payout over the specified period However, the