Quote:
Originally Posted by Robbie
Just saw one of the guys who won Powerball. He was holding up a check for over 148 MILLION DOLLARS.
Then the news guy said that after taxes he will have 53 million left.
Wow. The govt. is going to take almost 2/3 of the money. Wow.
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That's because he's taking the lump sum payment.
$445 million divided by 3 winners = $148 million each, IF they chose to take the non-lump payment.
The lump sum was a total of $223 million.
Divide that by three winners (regardless of their payment option), the end result would be he gets $74.3 million cash or $148 over 20 years.
so getting $53 million after taxes REALLY isn't all that bad, so 29% take.
btw, each state has a % they take, NJ is 3%. PA is 0%!!!
http://www.usamega.com/powerball-jackpot.asp