After you win the lottery, this is what you need to do with your winnings
After you win the lottery, this is what you need to do with your winnings
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Lottery payouts are the way lottery winnings are distributed Typically, lotteries pay out around 50–70% of stakes back to players
How Are Lottery Winnings Taxed? Lottery winnings are treated as ordinary income by both the Internal Revenue Service and most states At the state level, that Winners of the lottery in the are required to collect their prize money in a lump sum or an annuity The Mega Millions and Powerball lottery awards winners
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