Note: With a jackpot this size, filing jointly does not significantly lower your tax rate because the majority of the income falls into the highest bracket (37%) regardless of marital status.
US LOTTERY COMMISSION
PAY DATE: IMMEDIATE
EARNINGS STATEMENT
ID: WINNER-001

GROSS EARNINGS

Jackpot Prize $0.00
Cash Option Adj. -$0.00
Taxable Gross $0.00

TAXES & DEDUCTIONS

Federal Withholding (24%) -$0.00
Fed. Liability (Due April) -$0.00
State Tax (0%) -$0.00
Local/City Tax (0%) -$0.00
Child Tax Credits $0.00
Social Security Tax $0.00
Medicare Tax $0.00
EXEMPT: Winnings are non-wage income (IRS Pub. 525).
Total Taxes -$0.00
Net Pay Distribution
$0.00