Reported about 1 month ago
Jeanne, a resident of Sandusky, Ohio, won $15 million from a lottery scratch-off game but will only receive about $4.5 million after taxes. Despite joyous initial reactions, she faces a substantial tax burden of nearly $3 million, due to federal withholding and state taxes. She opted for a lump sum payment of $7.5 million rather than the annuity option, which could have resulted in lower yearly taxes.
Source: YAHOO