One family scammed the lottery for $20 million Then their luck ran out

massachusetts lottery tax
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massachusetts lottery tax Yet the top marginal tax rate of 37 percent means you'd owe a lot more at tax time And state taxes typically are due as well The big impact  A payee conducting gaming activities may be required to withhold income tax and report on Form W-2G  Taxes are deferred until payouts are received Winners choosing annuity payments often hedge their bets that tax rates will be lower in the future Investment

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