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VTHokie2000

Joined: 01/01/2005 Posts: 33818
Likes: 12458


The state may get its cut for the first year. However, if a person


decides to go with the annuity option, then this article suggests moving to a state that doesn't tax lottery winnings to eliminate the tax on future payments (see State Taxes section). Although even this article concludes that the lump sum is still the better option which I found interesting.

(In response to this post by 48zip)

Link: Click Here


Posted: 08/22/2017 at 1:05PM



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Current Thread:
  I used to live in Virginia -- MEHOKIE 08/22/2017 3:13PM
  "Six-ty nine, dude!" ** -- WestyHokie 08/22/2017 12:39PM
  The state gets their's before you see a dime. ** -- 48zip 08/22/2017 12:59PM
  That's new york -- MEHOKIE 08/22/2017 4:31PM
  But you said "lump sum". ** -- 48zip 08/22/2017 1:31PM
  Ah my mistake in the OP. I meant annuity. ** -- VTHokie2000 08/22/2017 1:35PM
  Tell that to the IRS ** -- 48zip 08/22/2017 1:37PM
  Hey BW. What would you win if -- daisyWV 08/22/2017 12:15PM
  Walking around money ** -- Brown Water 08/22/2017 1:35PM
  A trip to Disney World. ** -- capitals1 08/22/2017 12:42PM
  Just did very rough estimate -- RTFC 08/22/2017 11:27AM
  4 8 15 16 23 42 ** -- King Jaffe Joffer 08/22/2017 11:20AM
  Can we get a 6th of your winnings if we help? :-) ** -- HokieSignGuy 08/22/2017 11:18AM
  SHUN! ** -- TD-Tech 08/22/2017 12:55PM
  36 ** -- HokieSignGuy 08/22/2017 11:17AM
  42 ** -- Major Kong 08/22/2017 11:16AM
  49* ** -- daisyWV 08/22/2017 11:10AM
  13 ** -- vt90 08/22/2017 11:04AM
  6, 9, 34, 35, 69 ** -- Guy LeDouche 08/22/2017 11:03AM
  33 1/3 ** -- bigbadbird 08/22/2017 11:02AM

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