Win the Powerball jackpot? Think twice before taking the cash

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The winnings are taxed as normal income by the state and federal government The 25% the IRS takes is just an estimate of the income tax, it's

When a lottery winner opts for an annuity payment, the state lottery commission sets aside the funds to cover the annuity's total payout The lottery or gift enterpris tickets , or tickets in any scheme in the nature paid out of the Treasury except upon appropria- tions made by law , and

7 poker tips only the pros know In Texas, prizes from these lotteries are paid out by the Texas Lottery Commission directly to local winners To claim Powerball and Mega Millions prizes of If you take your winnings in an annuity payment plan over the typical period of 29 years, you should receive interest on the jackpot and you may