With lottery wins, the bottom line depends on where you live

Adriene Hill Aug 8, 2017
HTML EMBED:
COPY

With lottery wins, the bottom line depends on where you live

Adriene Hill Aug 8, 2017
HTML EMBED:
COPY

It’s that time again when lottery jackpots are big enough that even non-regulars are daydreaming about what they might do with the windfall. The Powerball and Mega Millions jackpots are both over $300 million. You know, of course that if you win, you’ll have to pay big federal income taxes. But state income taxes on lottery wins are all over the map.

Click the audio player above to hear the full story.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.