why are prize amounts diff between scratch and 5+0 prizes?

Reply #3

mcginnin56 — Fri, 10 Aug 2012 23:07:13 GMT

Hope I have good luck 2-nite as well (MM's).

To you as well kyok, hope you snap up at least a 5+0 prize for a cool million (unless you Powerplay?, then it would double to $2 million).

Reply #2

kyokushin187 — Fri, 10 Aug 2012 23:03:17 GMT

Thnx mcginn.good luck sat night.

Reply #1

mcginnin56 — Fri, 10 Aug 2012 22:51:29 GMT

That same scenario is for pretty much for every state. In NH, we have a million dollar scratch ticket, which guarantees a $1 million payout as an

annuity over twenty years. ($50,0000 x 20 years).

If you want the lump sum however, they only give you $650,000 before taxes. So I guess the final total would depend on what state and federal

taxes your liable for. In NH we have no state tax, just the 25% federal (which may not be enough came tax time, may wind up being 35%).

The

why are prize amounts diff between scratch and 5+0 prizes?

kyokushin187 — Fri, 10 Aug 2012 22:40:23 GMT

I was on my state lottery website and compared the prize amount between two winners after taxes.one player who won 1mill on powerball received 683,000.00 after taxes.while another player who one 1 mill on the 1,000,000.00 jackpot only received 541,187 after taxes.what gives