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how much would you end up with?

Topic closed. 15 replies. Last post 9 years ago by lottocalgal.

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lottocalgal's avatar - Lottery-043.jpg
United States
Member #57222
December 23, 2007
587 Posts
Posted: September 4, 2008, 2:01 pm - IP Logged

Good suggestion.

Not trying to be sarcastic, but I think the bottom line is "Depends on your accountant and tax attorney."  I made much less than a friend and paid more tax, got a lower "stimulus" check (didn't stimulate me very much. LOL) etc.  That's because she has more deductions. 

I think $15M is a bit high.   That's what you'll get paid, but you will probably owe about 5% more.  Another poster said in a different thread it will be around 35%, but it might be lower if you find someone who can offer good financial planning.   So my answer is, after all taxes are paid (unless you live in a state where the lottery prizes are taxed)* a cash prize of $20,500,000 should leave you with about $14 million.

Does it really matter?  $10 million, $15 million, $20 million ....   Who cares?  Just show me the money!! LOL


*You get taxed where you legally reside.

I'm with you.  I'll take 14 million.  Ten, Five,  even  one right  now. 

California Super lotto, whatever it is, just cough it up  I'm ready!Hurray!