Quote:
Originally Posted by BabyGirl Rosie  My bad! Not donations, its gifts that is taxed! |
I believe gifts over $12,000 a year are taxed at that ridiculous rate. Don't forget the tax that you pay on the winnings. Plus, if you take lump sum and not annual payments, the lottery prize is less than half.
When all is said and done, the winner will probably take home *only" $150 million.
