How Does the Mega Millions Lottery Payout Work?

Lottery Lump Sum vs Annuity: Which Payout Option? lottery lump sum payout Whatever you decide, you still have to pay taxes on your lottery winnings If you choose to receive the lump sum payment, you actually end up lottery ticket christmas tree The lottery automatically withholds 24% on all prizes over $5,000 for federal taxes For a $1 billion lump sum, that would be $240 million Note

lottery sambad 08 06 24 Powerball Jackpot winners may choose to receive their prize as an annuity, paid in 30 graduated payments over 29 years, or a lump-sum payment Both