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$875 MILLION: Powerball lottery jackpot surges on rolloverReply
LOL. OOPS. Yeah, the MM annuity is 560 M. Looked at the wrong number. Cash PB is $441.9. 63% Fed taxes, no state tax.
Jul 13, 2023, 8:38 pm - rcbbuckeye - Lottery News

Kentucky man who "coasted" into gas station on empty tank wins $1 million in lotteryReply
That is a pretty decent lump sum. Here in Michigan the lump sum on a million is $693,542 before taxes. congrats to the lucky winner!!!!!!!!!!
May 24, 2023, 3:10 pm - Think - Lottery News

Massachusetts father and son sentenced to prison for decade-long $20M lottery ticket schemeReply
The Jaafar family bought winning tickets at a reduce payout from players that didn't want the lottery to cash them for a number of reasons. Instead of just paying the taxes Ali Jaafar foolishly decided to claim losses on tickets they never bought and were sentenced to five years in prison. Over the course of eight years, the Jaafar family had cashed in more than 13,000 winning tickets, a phenomenon that statisticians would attribute astronomical odds to. Not sure why this was added whe
May 23, 2023, 8:55 pm - Stack47 - Lottery News

$1.33 billion Powerball jackpot won by one ticket sold in OregonReply
I think we got so blinded by the billion dollar jackpots people think that 1M is loose change. For the second prize winners that live in a state that doesn't tax the lottery that's 630K after taxes. 630K won't necessarily buy you a mansion or a yatch, but 630K can leave someone debt free and a little towards retirement. 630K is not an amount to be frowned upon. That's my attitude towards the game.
Apr 7, 2024, 12:20 pm - JustMaybe - Lottery News

$975 MILLION: Massive Powerball jackpot increases againReply
Like they say, you have to be in it to win it On that note, I got my one PB with PP and my one MM with the multiplier. Who said that 36M is not a significant amount. The around 10M after taxes is a lot of money - let's not pretend that our lives can only be changed by 100M I would still buy a ticket if the jackpots reset at 10M. Good luck to all.
Mar 31, 2024, 2:04 pm - JustMaybe - Lottery News

Michigan woman finds out through Facebook that she won $1 million Powerball lottery prizeReply
Assuming no other income and using the head of household tax brackets (2024) Note that: my understanding is that second division Powerball payouts are the full cash amount and not an annuity) Federal tax = $326,493.40 State tax (6%) = $60.000 Total tax = $386,493.40 Or, cash in the hand after State and Federal taxes ($1,000,000 - $386,493.40 ) = $613,506.60
Mar 14, 2024, 1:41 am - kao1632 - Lottery News

Massachusetts house cleaner finds $1 million winning lottery ticket, gives it to ownerReply
Aaww, such a sweet house cleaner. As always we do the math for the winners. State and Federal taxes = 46% So winner gets to keep 351K. I would give the cleaner 51K and be left with 300K. I like to deal with round figures.
Oct 25, 2023, 3:06 pm - JustMaybe - Lottery News

Editorial: Study of lottery winners still receiving food stamps is flawed but raises good pointsReply
I really find it hard to believe someone who wins $2 Million Dollars still needs Food Stamps no matter the Taxes and any possible out standing debt the State can collect on your behalf. I thought that you had to summit Tax Records for 2 years plus 4 months of employment statements at least I did when I became disabled from a double stroke and still got turned down even thought I had not worked in 3 months and waiting on a check from Insurance just based on the documents I summited not where
Oct 24, 2023, 11:32 pm - Onelast8 - Lottery News

$1.76 billion Powerball jackpot won by one ticket sold in CaliforniaNews Story
Lump-sum cash option worth $774.1 million By Todd Northrop For the fourth time, someone in the state of California has purchased a winning ticket for a lottery jackpot worth more than $1 billion. Last night, after 35 consecutive drawings without a winner, the multi-state Powerball lottery game finally produced a winner on the 36th try, resulting in a single ticket worth $1.7649 billion in 30 payments over 29 years, or $774.1 million in cash all at once. After the historic jackpo
Oct 12, 2023, 7:49 am - Todd - Lottery News

$1.55 BILLION: Powerball continues historic jackpot climbReply
Well, well, well. I have my ticket ready. If I win tonight, I will wait till the first week of January 2024 to claim my winning. That way I will have 15 extra months to invest the additional taxes of $88,336,955 that will be due at tax filing time in very safe Treasury Bills. Am squeezing every penny out of the winnings. I wish us all luck
Oct 9, 2023, 5:05 pm - JustMaybe - Lottery News