How much do you actually get for smaller winnings? + Problems claming <$599 prizes?

Reply #2

Todd — Mon, 25 Mar 2019 11:56:24 GMT

Reply #1

Kingofearth — Sun, 24 Mar 2019 19:44:26 GMT

Most smaller prizes are Cash so you only have to pay taxes on it.

Some retailers are quite small and so paying hundreds of dollars would be a hit. Try to cash any ticket over $100 at a gas station or supermarket or other large retailer that wouldn't bar an eye at hundreds of dollars.

How much do you actually get for smaller winnings? + Problems claming <$599 prizes?

occasion — Sun, 24 Mar 2019 19:21:22 GMT

For both the PB and the MM jackpots the cash value is much less than the one advertised. Next week's PB's jackpot will be $750 million, but the cash value is $465 million. Plus, almost 45% goes to federal and state taxes. But what about the other winnings, like the $1 million dollar prize, for example. Is the cash value still $1 million and then you just pay federal and state taxes? The same goes for $200,000 and for $50,000, $500, etc?

Have you guys ever had any problems claiming $599 prizes... [ More ]