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Back Taxes
If I owe both NY and Fed back taxes does lottery take both when claiming a prize at lottery claims center?
Jun 4, 2023, 12:12 pm - sam9009 - Lottery Discussion Forum

CA $184,416 Fantasy 5 jackpot split 32 waysReply
Yeah, they won $5763 BEFORE TAXES!! G5
Jun 26, 2023, 8:16 am - GiveFive - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
We're getting fewer winners with smaller prizes... In August of 2017 a $350M jackpot would have have given the winner $216M before taxes $162M after taxes in California. That's $0.46 on the dollar take-home. On 11/27/2023 the PB jackpot is $352M.... with a cash option of $163M before taxes about $103M after taxes in California.. That's $0.29 on the dollar take-home. That's a difference of $53M on the pre-tax $59M on the post-tax payout... So where the hell is that e
Nov 26, 2023, 12:13 am - Rexer90 - Lottery Discussion Forum

Decrease of cash valueReply
It's just gonna keep going down, down, down until someday a $1.5 billion Powerball jackpot winner will only take home a lump sum of $25,000,000 after taxes.
Oct 22, 2023, 9:04 pm - jjtheprince14 - Lottery Discussion Forum

2024 tax rates now published at USA Mega
Both the federal tax rate brackets and the state income tax rates used for the Powerball Jackpot Analysis and Mega Millions Jackpot Analysis pages at USA Mega have been updated to the latest 2024 rates. Federal tax bracket changes happen every year, with the IRS adjusting each bracket upwards slightly to account for inflation. For a lottery jackpot winner claiming millions in income this results in a minuscule change in taxes paid, but the adjustment at USA Mega does make it exact. For s
Jan 1, 2024, 10:56 am - Todd - Lottery Discussion Forum

Don't let the brain play tricks on you.Reply
Should you win, you get to keep all the money. Thats the fun bit, unlike over here where up to 47% could be taken in taxes
Aug 25, 2023, 8:28 am - JustMaybe - Lottery Discussion Forum

When is the right time to hang your lottery boots?Reply
Here is an alternative to quit playing the lottery. Spend a lot less money by joining a pool. For the current series of Mega Millions draws, I have been spending only 35 cents per draw. The pool is buying 20 tickets per draw. Not a lot of tickets but still enough to win. My share of the jackpot for the Friday draw is $3 million. This is the cash value and before taxes.
Mar 6, 2024, 1:36 pm - winoneday - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
MM cash value for Tuesday draw is $175.4 million. That's enough for me. In fact, at my age, $1 million ($630,000 after fed taxes) is enough for me. Yeaa, but will it be enuf AFTA You factor in MY Muhammad Ali cut... Howard Cosell ?
Dec 4, 2023, 1:17 pm - Stat$talker - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
Get your point. But...interest rates control the difference between annuity prize and cash value prize. MM cash value for Tuesday draw is $175.4 million. That's enough for me. In fact, at my age, $1 million ($630,000 after fed taxes) is enough for me.
Dec 3, 2023, 12:00 pm - rcbbuckeye - Lottery Discussion Forum

Big Prize Winners on LPReply
If you notice a lot of what you find here on LP is for pick 3 and 4. These pick games are easier to win vs the big lotteries. Also in many states if you play pick 3 you can cash it at the store tax free. However be aware if your state offers online play where you can play via the states lottery web site instead of going to an outlet to buy a physical ticket.. You will pay taxes on any of your winnings. The big plus of online play is you don't half to think about what you are doing if you have an
Nov 7, 2023, 10:57 am - lottologix - Lottery Discussion Forum