Are gamblinglottery winnings subject to Michigan individual income

If you win the lottery, how do you cash in your winnings? where do you put lottery winnings Minimizing Your Tax Burden · Annuity Payments: Spreading your winnings with an annuity can mean lower annual taxes compared to a lump sum · Charitable Donations: where was the unclaimed lottery ticket bought Also, some banks may tell you to deposit your money into their insured money market account, or IMMA, as this may currently pay a higher rate of

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