|Posted: February 16, 2006, 6:47 pm - IP Logged|
So if the current Indiana Powerball is at $365,000,000. Why is the prize only worth 177.3 million? What other taxes do I have to pay? Im not understand.. my comprehesion and grammer are no good. Thats what I'm going to do with my lottery winnings.. go to English grammer school.
As mentioned, the 177.3 million is the cash option (if you don't want to take the annuity)
Whatever one you take, expect the Federal government to take 40% of it. Depending on what state you live in, expect the state government to take their highest amount (here in Wisconsin they take 7%)
Basically, whatever you win, subtract at least half from it, and that's what you get.
How can you tell if a politician is lying?
Answer: His lips are moving.