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Examining the tax ramifications of winning the lottery is an additional tactic. Wins from lotteries may be taxable, depending on the amount won & local laws. To prevent future financial surprises, it's critical for winners to be aware of their tax responsibilities and make plans appropriately. Lottery winners can make sure that their newfound wealth has a beneficial & long-lasting effect on their lives by adopting a proactive and thoughtful approach to managing their winnings.