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$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

$1 BILLION: Powerball jackpot hits milestone for 3rd timeReply
I want to see someone OR ME ACTUALLY WIN A BILLION DOLLARS. AFTER TAXES.
Jul 18, 2023, 12:29 pm - Armanijoyce - Lottery News

Florida: 7/1 - 7/31/2023Reply
Federal Withholding Taxes Winnings and any taxes withheld are reported in accordance with the Internal Revenue Code and Code of Federal Regulations on all Florida Lottery winnings with a value of $600 or more. If a Florida Lottery prizewinner is a U.S. citizen or resident alien, the Internal Revenue Service (IRS) requires the Florida Lottery to withhold 24 percent federal withholding tax from prizes greater than $5,000. For non-resident aliens, the Florida Lottery is required to withhold 30
Jul 14, 2023, 10:47 am - Honeybfly - Pick 3 Forum

$875 MILLION: Powerball lottery jackpot surges on rolloverReply
The cash amount is 441,900,000 and federal taxes are 163,465,955 so even with no state taxes that's 278,434,045 after. Are you getting it mixed up with the mega millions jackpot of $560M
Jul 13, 2023, 7:53 pm - SoCola - Lottery News

$875 MILLION: Powerball lottery jackpot surges on rolloverReply
Am in too - will get two QP and I always add the extra buck for the power play - Ii I hit second tier, there will be more left after the taxes
Jul 13, 2023, 11:07 am - JustMaybe - Lottery News

Racetrack taxes
Sorry, I wasn't sure where to post this I have a question regarding winnings at the racetrack I have cashed tickets for multiple thousands of dollars at the track in the past and always had the option for them to take 20% (or maybe it was 25%?) right off the top and I claim it at tax time But it has always been just me and the winnings What if I'm in a pool with several people and we have them take the tax right off the top How are the other players responsible for their fair
May 3, 2023, 12:23 pm - ScoobyDue - Lottery Discussion Forum

Maryland man wins third $50,000 Pick 5 lottery prize in less than a year using same numbersReply
But if you hit for 50K on the Pick 3 you can cash them in a few at a time and not have to pay the 32.95% in taxes.
Apr 28, 2023, 5:16 pm - grwurston - Lottery News

Maryland: 2/1 - 2/29/2024Reply
I sent them a second email. Jim, Well, if we have to pay the 32.95% taxes (24% Fed, 8.95% state) which comes out to $263.60 on the $800 win per my example, that would leave me with only $536.40 in total take home winnings. I know you don't have any control or say over the taxes, but I'm going to be candid here. If that additional $400 in winnings is only going to amount to an actual $136.60 extra in my pocket, then in that case I hope I DON'T get one of the Double Box Payout promo
Feb 14, 2024, 7:02 pm - grwurston - Pick 4 Forum

$1.76 billion Powerball jackpot won by one ticket sold in CaliforniaReply
I always buy one regardless of the amount - I sort of like the gradual addition as the jackpot increases. So is the one extra ticket added per every 100M based on the take home amount, or the jackpot estimate? For example the last jackpot was 1.7B, so if you buy an extra ticket for every 100M, you'd need to buy 17 tickets the last draw. But if it's based on the take home amount after taxes, then that would have been 4 tickets for the last draw. I would be comfortable adding for every
Oct 13, 2023, 11:50 am - JustMaybe - Lottery News