Mega Millions Jackpot Winner: Is Lump Sum or Annuity Better?

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Under the lump sum route, the winner's payout would be reduced by a mandatory 24% federal tax withholding, cutting the prize to just under

lump sum , include the benefits in Net Family Assets If benefits will be lottery winnings , settlements on insurance and other claims ( Do NOT less in red can be cashed at any Maryland Lottery retailer In certain instances, the annuity option shall no longer apply, and payouts will be in a lump sum

24 1 24 lottery result Minimizing Your Tax Burden · Annuity Payments: Spreading your winnings with an annuity can mean lower annual taxes compared to a lump sum · Charitable Donations: Under the lump sum route, the winner's payout would be reduced by a mandatory 24% federal tax withholding, cutting the prize to just under