Quote:
Originally Posted by DateDoc
One time cash payout minus taxes will make it $250M but I'm happy when I win $2 on a $1 ticket so that would rock!  |
Correct.
Quote:
Originally Posted by raymor
Tax is 50%, payout is about half, so actual value of "$476 million" is about $120 million.
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Incorrect.
Quote:
Originally Posted by OldJeff
Tax is 30% capital gains, and in NJ no state tax on lottery winnings.
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Seems NJ does have a state tax in this case. Maybe it's NJ lotto that is exempted (I have no idea).
http://www.usamega.com/mega-millions-jackpot.asp