Lottery pooling and take home winningsPrev TopicNext Topic

• HEYPHILLIP

  United States
  Member #5,387
  July 2, 2004
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  Mar 26, 2005, 6:37 am

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  I am currently in a permenant lottery pool of guys on my job. there are 13 of us right now the mega millions jackpot is 63 million. and in my state NJ the payout is 27.750.000 million NJ doesn't have sale taxes on lotteries. my question is what would be the take home for 13 people IF we get lucky?
• winnerpick3

  

  pasadena MARYLAND
  United States
  Member #11,646
  February 20, 2005
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  Mar 26, 2005, 8:12 am

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  2,134,616= 27,750,000 divided by 13 but remember the feds are going to want their share of the money i do believe which depending on your tax bracket will vary from person to person but in any case i dont think you would have to work with any of the people anymore
• HEYPHILLIP

  United States
  Member #5,387
  July 2, 2004
  28 Posts
  Offline
  Mar 26, 2005, 8:35 am

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  Quote: Originally posted by winnerpick3 on March 26, 2005
  

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  2,134,616= 27,750,000 divided by 13 but remember the feds are going to want their share of the money i do believe which depending on your tax bracket will vary from person to person but in any case i dont think you would have to work with any of the people anymore                                                                     
  

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          Yeh i know what you mean in fact i probably will get hit the most out of the 13 of us in federal taxes because i am single with no dependents. the rest of the guys are married with kids. many pool winners from what i hear hire a group law firm to handle there winnings. i don't know what the benefit is in that.