How to I pay less taxes on a million dollar cash prize from PCH?


In the United States, lottery winnings are taxable and must appear on your income taxes. The highest tax rate in the US is 35% federally, and varies by state (although say 3% on average) You'd pay about $350,000 a year in income taxes on your million
Q&A Related to "How to I pay less taxes on a million dollar..."
There is no set "expiration date" on refund checks, but
This is not intended to be a revenue-generating measure. This is an anti-tax evasion measure. Large amounts of cash are withdrawn for no purpose and these disappear into a black hole
If you cash in and roll within 60 days it is not taxable.. but the burden will be on you to prove you rolled it. The 20% they withhold, will usually have to be made up. Meaning you
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