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Message: <blockquote data-quote="Babagounj" data-source="post: 5652389" data-attributes="member: 12952">Actually, the first of the 30 years payments is doubled.The rest is paid out over 28 years.Minus of course any state required taxes while will lower the end amount.The annuity isn't paid out by any state agency.The procedure is for the lottery agency to hire an insurance company that provides the annuity.As for Federal Taxes, one pays a good chunk up front followed by another large payment due at tax time.It doesn't matter what your tax rate is, Uncle Sam will have his hand out.The best thing one can do upon winning is to hire a good law firm to set up a blind trust , if your state allows it, to hide your identity. As for a name for the trust, don't use your own name, pick something totally unrelated.</blockquote>