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California man asks clerk to choose a lottery game for him, ends up picking out a ticket worth $10MReply
I thought they had taken all the federal taxes on the 10M since Cal does not pay state taxes on lotto. But if I bagged 5.8M after all taxes and the cashier picked the ticket for me (especially a scratch game and not the QP tickets) , I wouldn't think twice about giving them 800K. It was purely the clerk's choice that won.
Oct 20, 2023, 12:32 pm - JustMaybe - Lottery News

Kentucky woman quits job after winning $90,000 in the lotteryReply
Not false advertising on any level. Everyone knows taxes are later withheld.
Apr 6, 2024, 1:59 pm - Artist77 - Lottery News

$1.23 BILLION: Powerball jackpot juggernaut keeps rollingReply
good bye unemployment, hello $1mil dollars, I am still working for this amnt ($1mil) after taxes $650K
Apr 5, 2024, 3:53 pm - En ReVal - Lottery News

Kentucky man out of debt for the first time in his life, thanks to $150,000 lottery winReply
Overdue property taxes????? He paid off his mortgage.
Mar 7, 2024, 6:17 am - Artist77 - Lottery News

Father buys winning $1 million lottery ticket while wife waits in hospital with newbornReply
Totally agreed. No taxes no the so called advertised amount that make people sicks...
Feb 1, 2024, 11:42 pm - Petrust99 - Lottery News

California man asks clerk to choose a lottery game for him, ends up picking out a ticket worth $10MReply
Well, give the winner a chance to cash the ticket first I suppose is the thing to do here. We do though need a follow up on this story regarding how much he tipped. 800k is a little excessive actually. The winner is not going to get 5.8 million after taxes. They are going to get 5.8 million and then pay the taxes since they took the lump sum. Ballpark around 3 million. The clerk doesn't deserve 30% or so. More like 5% would be fair.
Oct 20, 2023, 12:04 pm - billybucks - Lottery News

$1.58 billion Mega Millions lottery winner has two weeks left to claim cash optionReply
I'm fine with tens of thousands of dollars, heck, so, 1 million after taxes more like the truthful of 1/2 million it would be, after taxes, is fine too. I am sure this person shall claim it at the very last few minutes. (i hope)
Sep 23, 2023, 2:05 pm - Cassie8620 - Lottery News

$1.55 BILLION: Biggest Mega Millions jackpot ever to be drawn TuesdayReply
How much will federal taxes be on this amount? 50%???
Aug 6, 2023, 3:07 pm - Ziopic$ - Lottery News

$1.25 BILLION: Mega Millions jackpot set to deliver unimaginable wealthReply
Great attitude to have. Even after taxes, it's still a lot of money to use to make your life better.
Aug 4, 2023, 7:33 pm - PrisonerSix - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
Disclaimer : The below is not tax advice and should not be construed as such. There are I think around 8 states that don't tax lottery winnings. However, one will still have to pay federal taxes which max out at 37% depending on the amount won and marital status. That and the fact that different states tax lottery winnings at different percentages makes it hard to have a one hat fits all approach to taxes on lottery winnings. However, this forum has done a good job of showing the tax
Jul 27, 2023, 12:30 pm - JustMaybe - Lottery News