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money after cash value and taxes
how do you find out exactly how much your taking home if you choose cash value option. Is it the jackpot divided by two then minus a 40% tax?So for the current powerball it would be 83/2 * .60 = 24.9 million, ack thats a much smaller number
May 5, 2005, 3:31 pm - freddy827 - Jackpot Games Forum

Mega Millions - State MattersReply
what Todd said is correct. many states have to rebuild 100 plus yr old infrastructures and aren't going to be able to do it without generating additional income. If anything many states will adapt to taxes, as did Ohio when they found out how much revenu they lost when they sold a winning mega mil ticket. I think they re wrote the charter to include taxes on a jackpot win.
Apr 11, 2005, 10:28 am - four4me - Jackpot Games Forum

Mega Millions - State MattersReply
Quote: Originally posted by DoctorEw220 on April 9, 2005 remember that if you are from out of state, and you win the jackpot in a state that doesn't tax its residents if they win, you will still have to pay state taxes. it's a weird rule.From what I understand about state income taxes, you have to pay based on the state in which you reside. In other words if you win in a state with no income tax and you live in a state that has income tax, you'd still have to pay.PrisonerSix
Apr 10, 2005, 9:28 am - PrisonerSix - Jackpot Games Forum

PLEASE HELP - regarding tax and lottoriesReply
Who really cares about taxes....If you were to win a jackpot, you would gladly pay the taxes just so that you can get your hands on the money. Could it be that you did win some large jackpot and am trying to scam your local government out of the tax due?
Oct 23, 2004, 8:55 am - st.germain - Jackpot Games Forum

Powerball $115 Million WednesdayReply
CHIEF,it just dawned on me, we have a ways to go yet.the jackpot is $115million now. thats the amount that we need lump sum after taxes in order to un-seat jack whittaker as the single biggest winner in lottery history. jack won around $113 million after taxes (i think), so we have to be patient... $115millionworthofVISION
Aug 27, 2003, 5:29 pm - visiondude - Jackpot Games Forum

a questionReply
I don't know why you'd even worry about taxes. Just play. If you win, then worry about the taxes.
Aug 13, 2003, 10:15 am - smd173 - Jackpot Games Forum

Millionares!Reply
Quote: Originally posted by golotto on August 04, 2003 update:The article stated that after taxes the person will collect about $67,000. This amount seems quite high. I suspect that more taxes will be owed later.Actually that figure seems low. I thought lotteries withhold 25% federal, and then based on how much income you have will determine if you owe more (possibly up to an additional 13%). For $100,000 PB win, I'd think they'd get $75,000 from the lottery.
Aug 4, 2003, 7:16 pm - smd173 - Jackpot Games Forum

if no winner next jackpot is $175 millionReply
Kristin,You said Michigan takes 40% out for taxes. How is that? They take the 28% federal and the 4.2% state taxes. Where does the 40% come from?Brad
Jun 18, 2003, 10:14 am - Bradly_60 - Jackpot Games Forum

Don't forget Mega Millions!Reply
I don't blame you for wanting to play in NJ instead of NY - you'd get almost $3 million more after taxes (NO lottery taxes in NJ). I'm not sure if I'll make it out to a PB state for the Wed. drawing - we'll see.
Dec 22, 2002, 8:25 am - Todd - Jackpot Games Forum

$440 Million for Wednesday PowerballReply
Who would not complain about paying taxes that you do not legally owe? Anyway, the way I figure it out (and I'm usually wrong), under the new laws, depending on your filing status, you would keep around an additional $7 million if you won Wed jackpot. Now, for those members who are socialists/communists, you can always pay more in taxes than you owe. Knock yourselves out. https://www.doughroller.net/taxes/federal-income-tax-brackets-deductions-and-exemption-limits/
Jan 2, 2018, 6:35 am - Redd55 - Jackpot Games Forum