How Much Does Winning the Lottery Cost You?
If you discuss the dreams and opportunities that come with winning the lottery amongst a group of friends, there’s inevitably one person who points out you’re going to have to pay half of it in taxes. It can be a bummer, but it’s also not necessarily true.
Depending on where you live and how much you win, you could wind up paying a good portion in taxes (although, likely not half). There are also less direct costs that can impact lottery winners and those around them.
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