how much would you end up with?

Reply #15

lottocalgal — Thu, 04 Sep 2008 18:01:45 GMT

I'm with you. I'll take 14 million. Ten, Five, even one right now.

California Super lotto, whatever it is, just cough it up I'm ready

Reply #14

DC81 — Tue, 02 Sep 2008 00:51:17 GMT

Yeah, CA doesn't have a state tax on the lottery as shown on the Jackpot payout link from USAMega/Lottery Post's sister site.

Reply #13

blackblue — Mon, 01 Sep 2008 22:53:45 GMT

it said on a site that someone posted that CA has no state tax for lottery prizes.

Reply #12

psykomo — Fri, 15 Aug 2008 00:46:53 GMT

Don't Worry BB:

YOU R TRULY from a GREAT STATE

???????????????????????????????????????????????????????????????????

HOW long (average time) DO people HAVE 2 stand in the WELFARE LINE??

I assume with the influX of the citizen's from outher COUNTRIE'$$$$$$$$$

EVERYONE is satisfited with ALL the G@@D SERISEVEEEEEEEEE!!!!!!!!!!!

TRANSLATION: (PSYKO LUV's ALL)

BUTT,.........with million's of people NEED'n SERVICE

WHAT ARE THE LOTTO or LOTTERY ODD'ssssss(U) will get serivace... [ More ]

Reply #11

psykomo — Mon, 11 Aug 2008 23:59:23 GMT

DON'T U WORRY BB:

O'BAMA will set U ME FREE

U can live OFF $CHANGE$

LOL DON't WORRY BOUT TAXE$$$$$$$$$$$$$$$$$

PSYKOMO

vote for O'BAMA Party

Reply #10

blackblue — Sat, 09 Aug 2008 21:35:35 GMT

thank you all! very helpful.

Reply #9

tiggs95 — Mon, 04 Aug 2008 14:53:11 GMT

Make that 15,375,000.00..My bad..........

Reply #8

tiggs95 — Mon, 04 Aug 2008 14:50:30 GMT

You would end up with 14,145,000.00

Reply #7

paulkbarnes — Mon, 04 Aug 2008 03:31:30 GMT

You'll get 75% of that and still owe about $2M. Get a tax attorney before you ever claim the ticket. Sorry to hear you live in Calif. Add another couple hundred thousand for state tax.

Reply #6

KY Floyd — Mon, 04 Aug 2008 02:43:56 GMT

*You get taxed where you legally reside.

And/or in the state where you buy the ticket. California may not collect income tax on winnings from the California lottery, but if a CA resident bought a MM ticket in a state that does tax winnings from their lottery they could owe income tax in both states. You'd owe income tax to the state where the ticket was bought, and the winnings would be taxable income in California. I'm not familair with the specifics of CA's tax rules, but the amount of tax... [ More ]

Reply #5

colthmn — Mon, 04 Aug 2008 02:39:50 GMT

I merely tried to show this member how to use a tool on this site to get some basic information! I would hope, that this member and any other would consult the proper professionals whether fin. planners and or tax consultants were they actually to win a major jackpot

Reply #4

DC81 — Sun, 03 Aug 2008 23:20:14 GMT

http://usamega.com/mega-millions-jackpot.htm

California is the first one, that's not all the potential taxes you may have to pay, just the initial tax that's taken off. You'll also have to pay whatever is left as well as the interest/dividends earned from now until the end of the year.

Reply #3

blackblue — Sun, 03 Aug 2008 22:14:07 GMT

The thing is I don't currently work(n,not waiting to win the lottery lol) therefore I don't pay taxes.

If I won I wouldn't have a financial planner unless it's needed (you know if they deal with taxes and all that I don't know)

I know exactly where every cent will go.

Reply #2

justxploring — Sun, 03 Aug 2008 21:38:48 GMT

Good suggestion.

Not trying to be sarcastic, but I think the bottom line is Depends on your accountant and tax attorney. I made much less than a friend and paid more tax, got a lower stimulus check (didn't stimulate me very much. LOL) etc. That's because she has more deductions.

I think $15M is a bit high. That's what you'll get paid, but you will probably owe about 5% more. Another poster said in a different thread it will be around 35%, but it might be lower if you find someone who can... [ More ]

Reply #1

colthmn — Sun, 03 Aug 2008 21:26:51 GMT

On this sites Home page, in the left hand column under Mega Millions. 9th option down you'll find Jackpot analysis. Click on that and you'll get your answer each draw. $15,000,000.00

how much would you end up with?

blackblue — Sun, 03 Aug 2008 21:08:09 GMT

For california

If the Mega Millions Jackpot is:

$34,000,000.00

and the estimated cash value is:

$20,500,000.00

and you take the Cash Value Lump Sum Option

How much would you end up with in the end after taxes, etc?

(i'm not really good with percentages