That means another $67.2 million in addition to the $124.0 million withheld – a total of $191.2 million in federal taxes.Īll this would be part of our winner's 2023 federal income tax return and would ultimately leave them with $325.6 million, assuming no other deductions. But the total lump sum is subject to a federal marginal tax rate of up to 37%. That leaves our winner with $392.8 million. If our winner takes the $516.8 million lump sum payout, they'll automatically pay the IRS $124.0 million, or 24% off the top in federal tax withholding, according to Forbes. No one has chosen annuity payments since 2014, according to Axios.
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