This Michigan couple spotted a lucrative lottery loophole

Mid-Michigan Lottery Club Claims $ Million Powerball Jackpot michigan lottery tax If you snag a prize over $5,000, the Michigan Lottery will automatically withhold a chunky 24% for federal income tax and a slightly smaller % for Michigan michigan 3 & 4 lottery The State of Michigan's lottery tax, while not 0%, is quite reasonable compared to most states It's important to note, the IRS takes 24

michigan lottery scratch off remaining prizes Currently, the Michigan Lottery withholds federal taxes at 24% and state taxes at % on winnings over $5,000 For prizes greater than $600 up