Mega Millions jackpot: Lump sum or annuity payout? What to know

how does the lottery annuity work
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You will receive a payment every year until the full annuity amount is paid out Taxes are withheld from each payment It is similar to how a savings bond works

If a lottery winner chooses to collect their winnings in a lump sum, it gives them the opportunity to invest in high-yield financial options,

how long does it take to receive lottery winnings in california The main one is that taking the annuity is basically like letting the government hold onto part of your prize for a while and invest it for you

how does winning the lottery work Lottery annuities are structured to provide equal annual payments to the winner The amount of each payment is determined by the total prize