This page is a permanent link to the reply below and its nested replies. See all post replies »
Picklebobble2 · 56-60, M
In the U.S. your initial liability on a lottery win is about 25%.
After that your remaining balance is subject to the individual tax laws depending on what State you're in.
So you may pay an initial tax and then a different rate depending on where you decide to put it.
And some banks are likely to charge you for making it accessible through them.
This will also put you personally in a higher rate tax bracket for income tax.
And all advice costs.
Consultation.
Investments.
Tax specialists.
Accountancy....
After that your remaining balance is subject to the individual tax laws depending on what State you're in.
So you may pay an initial tax and then a different rate depending on where you decide to put it.
And some banks are likely to charge you for making it accessible through them.
This will also put you personally in a higher rate tax bracket for income tax.
And all advice costs.
Consultation.
Investments.
Tax specialists.
Accountancy....