An Ohio woman won a $15M jackpot, but she may take home $4.5M after taxes. How to use a windfall to grow your net worth
Yahoo Finance·2025-12-26 18:05

After all that, Jeanne’s total tax liability related to her win alone comes to about 3millionmeaningshellonlygettoenjoyaround3 million — meaning she’ll only get to enjoy around 4.5 million from her 50scratchoffwin(whichisstillastunningreturnoninvestment).TheBuckeyeStatealsotaxeslotterywinningslikenormalincome.Jeannes50 scratch-off win (which is still a stunning return-on-investment).The Buckeye State also taxes lottery winnings like normal income. Jeanne’s 7.5 million lump sum win would place her firmly in the top state income tax bracket of 3.5% for 2024, which would eat approximately $262,000 from her total.But as lottery winnings are taxed as ordinary incom ...