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$1 BILLION: Powerball jackpot hits milestone for 3rd timeReply
I want to see someone OR ME ACTUALLY WIN A BILLION DOLLARS. AFTER TAXES.
Jul 18, 2023, 12:29 pm - Armanijoyce - Lottery News

Florida: 7/1 - 7/31/2023Reply
Federal Withholding Taxes Winnings and any taxes withheld are reported in accordance with the Internal Revenue Code and Code of Federal Regulations on all Florida Lottery winnings with a value of $600 or more. If a Florida Lottery prizewinner is a U.S. citizen or resident alien, the Internal Revenue Service (IRS) requires the Florida Lottery to withhold 24 percent federal withholding tax from prizes greater than $5,000. For non-resident aliens, the Florida Lottery is required to withhold 30
Jul 14, 2023, 10:47 am - Honeybfly - Pick 3 Forum

$875 MILLION: Powerball lottery jackpot surges on rolloverReply
The cash amount is 441,900,000 and federal taxes are 163,465,955 so even with no state taxes that's 278,434,045 after. Are you getting it mixed up with the mega millions jackpot of $560M
Jul 13, 2023, 7:53 pm - SoCola - Lottery News

$875 MILLION: Powerball lottery jackpot surges on rolloverReply
Am in too - will get two QP and I always add the extra buck for the power play - Ii I hit second tier, there will be more left after the taxes
Jul 13, 2023, 11:07 am - JustMaybe - Lottery News

Maryland: 2/1 - 2/29/2024Reply
I sent them a second email. Jim, Well, if we have to pay the 32.95% taxes (24% Fed, 8.95% state) which comes out to $263.60 on the $800 win per my example, that would leave me with only $536.40 in total take home winnings. I know you don't have any control or say over the taxes, but I'm going to be candid here. If that additional $400 in winnings is only going to amount to an actual $136.60 extra in my pocket, then in that case I hope I DON'T get one of the Double Box Payout promo
Feb 14, 2024, 7:02 pm - grwurston - Pick 4 Forum

$1.76 billion Powerball jackpot won by one ticket sold in CaliforniaReply
I always buy one regardless of the amount - I sort of like the gradual addition as the jackpot increases. So is the one extra ticket added per every 100M based on the take home amount, or the jackpot estimate? For example the last jackpot was 1.7B, so if you buy an extra ticket for every 100M, you'd need to buy 17 tickets the last draw. But if it's based on the take home amount after taxes, then that would have been 4 tickets for the last draw. I would be comfortable adding for every
Oct 13, 2023, 11:50 am - JustMaybe - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
This is indeed interesting. My understanding has been that tax is based on residence especially for the annuity after the first payment. I have read widely on Taxes and have wanted to know what are the best tax strategies. Unless the CPAs and CFAs are totally wrong, I don't know who to believe. Below is an extract and a link to some articles from Tax Advisors. @KY Floyd: let me know what your thoughts are after reading the below and the article. From a state tax perspective, an
Jul 28, 2023, 8:45 am - JustMaybe - Lottery News

Illinois man celebrates Valentine's Day with $1 million lottery win three days after breakupReply
So HE wins a MILLION but only gets $600,000 before TAXES, I don't consider that A MILLION, I call that a JOKE. $300,000 after taxes is a tidy sum but it is NOT A MILLION but the State Lottery and the News will say he won a million but he didn't so everyone will believe he won a million. I think it sucks to win a big prize like that and then you have to choose either be tied to the tax man for 20 years or accept half as a consolation prize instead. The State of Illusions
Feb 14, 2024, 6:35 pm - Onelast8 - Lottery News

Editorial: Study of lottery winners still receiving food stamps is flawed but raises good pointsReply
Don't forget when they win any lottery prizes the state takes most their winnings , which might explain why they are still getting it. They not talking about that part, leaving winners still in need. I can recall in 2015 I won 11G at the casino. I was on public assistance when my daughter was 11 years old(28 now show how long). And best believe after the federal taxes plus other state taxes plus the welfare cut, I had only $1,100 left and I weren't even working at the time and
Nov 1, 2023, 2:35 pm - Dollybody42 - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
It's been awhile but, the subject matter lured me back into this conversation. Okay I currently reside in state A ..... that has income tax plus. If I were to buy pb or mm in neighboring state B .... with no income taxes.... And before I claim my winning ticket in state B ... establish a new residence in state B .... how would I be liable to pay income taxes to my old state, A? Thanks for your reply in advance!
Jul 28, 2023, 7:46 pm - ShagE3 - Lottery News