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Cake day: December 12th, 2024

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  • splinter@lemm.eeto196@lemmy.blahaj.zoneDeath and taxes rule
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    2 days ago

    No, the top tax rate is 37%.

    With lottery prizes, the full amount is usually only available as annuity payments over 20-30 years. If you pick a lump sum, it’s typically only 40% of the full amount.

    This winner chose the lump sum payment, so his lottery prize was about $600,000,000.