Lottery Payout Options: Annuity vs Lump Sum

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Some states have no income tax or don't tax lottery winnings, but others have top-income state tax brackets exceeding 10% Powerball isn't

Though some states do not have a state lottery tax withholding, they Those in New York state profit the least, at $ million

ny lottery ticket pay on lottery winnings in NYC? 00:43 - Can NYS garnish lottery winnings? 01:06

ny lottery drawings The 2024 federal tax brackets place the Mega Millions jackpot winnings at a 37% tax rate, whether the winner opts for the lump sum or not That's because the 37