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Jackpot-winning Powerball ticket worth $131.5 million sold in Philadelphia

Topic closed. 23 replies. Last post 3 years ago by jamella724.

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United States
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August 2, 2012
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Posted: June 24, 2013, 3:16 am - IP Logged

After taxes, the winner would keep about 46.8 million dollars lump-sum or 36% of the annuity prize.

The cash option is 77.4 million - 25% federal taxes. No state taxes on lottery wins in PA. Way more then 46.8 million.

    whiteballz's avatar - Lottery-015.jpg
    Nutley, New Jersey
    United States
    Member #131058
    August 1, 2012
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    Posted: June 24, 2013, 4:25 am - IP Logged

    The cash option is 77.4 million - 25% federal taxes. No state taxes on lottery wins in PA. Way more then 46.8 million.

    25% is what is initially withheld. Here are the 2013 federal tax brackets:

    RateSingle FilersMarried Joint FilersHead of Household Filers
    10%$0 to $8,925$0 to $17,850$0 to $12,750
    15%$8,925 to $36,250$17,850 to $72,500$12,750 to $48,600
    25%$36,250 to $87,850$72,500 to $146,400$48,600 to $125,450
    28%$87,850 to $183,250$146,400 to $223,050$125,450 to $203,150
    33%$183,250 to $398,350$223,050 to $398,350$203,150 to $398,350
    35%$398,350 to $400,000$398,350 to $450,000$398,350 to $425,000
    39.6%$400,000 and up$450,000 and up$425,000 and up

    it's like when you work, money is withheld from your pay check and then you have to do your taxes in April. Depending on how much money you make, you might get a refund if they withheld too much or you may owe more money if they withheld too little.

    In this case the Powerball winner won 77.4 million and 25% is withheld, when they due their taxes they will owe even more money.

    .

      whiteballz's avatar - Lottery-015.jpg
      Nutley, New Jersey
      United States
      Member #131058
      August 1, 2012
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      Posted: June 24, 2013, 4:49 am - IP Logged

      Ejnoy that 'for half the price of the ticket' while it lasts.

      I read Mega Millions will change to 75 white balls and 15 gold balls on October 22nd. http://www.lotterypost.com/news/261291

      Are you saying they will increase the price of MM tickets too?

      .


        United States
        Member #106134
        February 13, 2011
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        Posted: June 24, 2013, 9:34 am - IP Logged

        Those arseholes won my Powerball! Mad

          LottoGuyBC's avatar - Lottery-050.jpg
          British Columbia
          Canada
          Member #116101
          September 4, 2011
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          Posted: June 24, 2013, 10:56 am - IP Logged

          Congratz to the Winner Cheers

          "You have to be in it to win it!"


            United States
            Member #116268
            September 7, 2011
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            Posted: June 24, 2013, 11:08 am - IP Logged

            I read Mega Millions will change to 75 white balls and 15 gold balls on October 22nd. http://www.lotterypost.com/news/261291

            Are you saying they will increase the price of MM tickets too?

            They should have increased the price a long time ago.

              ressuccess's avatar - Lottery-043.jpg

              United States
              Member #93164
              June 23, 2010
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              Posted: June 24, 2013, 2:27 pm - IP Logged

              Congratulations to this jackpot winner. This will be part of my current event this week.


                United States
                Member #116268
                September 7, 2011
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                Posted: June 24, 2013, 8:54 pm - IP Logged

                Congratulations to this jackpot winner. This will be part of my current event this week.

                Best wishes to the big winner.

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                  Texas
                  United States
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                  Posted: July 14, 2013, 12:41 am - IP Logged

                  Who could be that lucky winner? I hope it's me because if I hit the jackpot worth $131.5 million I will do a lot of things with that money. I put up a business , buy house and lot and part of it will go to my community. I wonder when it will happen, I hope soon!