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Calculating the jackpot results

Topic closed. 1 reply. Last post 10 years ago by RJOh.

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New Member
Rochester, NY
United States
Member #49960
February 21, 2007
7 Posts
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Posted: April 29, 2007, 12:04 am - IP Logged

I've gone to some sites to see the Megaball jackpot analysis results and other sites and the numbers are different. They all subtract the federal 25% from the lumpsum correctly. But when it comes to the state taxes, some subtract from the result after the federal tax was subtracted (As you would do in a regular tax return) and others subtract directly from the lump sum. Which is the correct way?

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19831 Posts
    Online
    Posted: April 29, 2007, 12:37 am - IP Logged

    In Ohio, the amount you pay state taxes on is copied from your federal tax forms, so the taxable amount is the same for both.

     * you don't need to buy more tickets, just buy a winning ticket * 
       
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