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how much do we keep?

Topic closed. 2 replies. Last post 4 years ago by guesser.

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United States
Member #138895
February 9, 2013
2 Posts
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Posted: February 10, 2013, 2:25 pm - IP Logged

If someone in Tucson Az. were to win the az pick for 1mil. or 10 mil, how much would be taken out by  a lottery commision, if there is one, or by state/fed taxes... how much would the winner keep?

  How about the same question for the Mega Mill. and the Power Ball?

  How much of the grand prize is taken by any lottery commisions or taxes? What will a winner in Az. really end up  with?

  Just Curious.

    whiteballz's avatar - Lottery-015.jpg
    Nutley, New Jersey
    United States
    Member #131058
    August 1, 2012
    875 Posts
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    Posted: February 10, 2013, 3:29 pm - IP Logged

    If someone in Tucson Az. were to win the az pick for 1mil. or 10 mil, how much would be taken out by  a lottery commision, if there is one, or by state/fed taxes... how much would the winner keep?

      How about the same question for the Mega Mill. and the Power Ball?

      How much of the grand prize is taken by any lottery commisions or taxes? What will a winner in Az. really end up  with?

      Just Curious.

    go here: http://www.usamega.com/mega-millions-jackpot.asp

    keep in mind this is just the initial withholding. Most likely you will pay about 10 to 20% more tax April of next year. The top tax rate for 2013 is 39.6% for federal.

    .

      guesser's avatar - Lottery-017.jpg

      United States
      Member #41383
      June 16, 2006
      1969 Posts
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      Posted: February 15, 2013, 12:43 am - IP Logged

      When I hit it, when all was said and done, I got to keep 46% of it.