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After you win the lottery...?


after you win the lottery and the governmnet takes taxes off of you winnings, how much money do you have left?

I don't need an exact number just a range. This would help me so much.
My teacher wants me to write an essay on what you would do if you won the lottery and you have to use an appropriate range, obviosly.

After its taxed and everything, what is an appropriate range of money you have left?

thank you

yeah not only to they take almost half for taxes, but if you get it in one lump sum they deduct even more. There was a guy who won 315 million and he got a check for 113.4 million after taxes and lump sum payout so he paid 64% out and only got to keep 36%

It depends where you live, but the highest tax brackets (state plus federal) take nearly half... about 45%...

This is posted in UK taxes, but I think you're American.
As far as I know all lottery winnings are tax free regardless of where the lottery is based. However, income derived from the winnings is taxable.

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