Lets say you win the lotto, what do they take out for when you cash in the ticket?
April 13th, 2009 | by admin |
oc245 asked:
I know they take out if u were ever on public assistance, but not sure of anything else.
Lauren
I know they take out if u were ever on public assistance, but not sure of anything else.
Lauren
2 Responses to “Lets say you win the lotto, what do they take out for when you cash in the ticket?”
By Canadian Diva on Apr 16, 2009 | Reply
Taxes, and depending on where you live, LOTS of taxes! Peace:)
By Larry S on Apr 17, 2009 | Reply
Well, right up front, you get taxes and taxes and more taxes taken from it. That’s maybe a good 10-20% taken.
Then, on the bigger games, you either get paid up front or in annual installments. If you choose to be paid up front, that’s a huge amount of money gone, maybe 30-50%.
Good luck winning