Cash Option Reference Table

taxes on $1 million dollars lottery winnings
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But if you take the lump-sum cash prize, you'll pay tax twice: on the prize when you win it, and on the income you get by investing it This

winnings If you sell or otherwise dispose of an asset that was a prize from a lottery, you must declare any capital gains you make in your tax return You

taxes on lottery winnings canada Before getting your winnings, you'd have to pay a 24% tax withholding, which the IRS requires for winnings over $5,000, CNBC explains Out of

taxes on poker winnings If someone reports an income over $1 million, that triggers the additional 4% “fair share” tax, according to the Massachusetts tax officials “