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Old November 25 2012, 11:49 AM   #4
Locutus of Bored
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Location: Huntington Beach, California
Re: Powerball. What could you do with a 425 million dollar lottery win

Mr. Laser Beam wrote: View Post
After taxes, there probably wouldn't be much of it left anyway...
With a $425 million dollar jackpot, a single winnerís one-time lump sum cash payout would be $278,300,000.



Depending on which state you purchased the ticket in, your state taxes can range from a low of 0% (California and some other states don't tax in-state lottery winnings) to a high of 10.8% (New Jersey).

Federal taxes would be 25% of the lump sum or $69,575,000. New Jersey (highest) state withholdings would be $30,056,400.

In California (0%), you'd take home $208,725,000. In New Jersey (10.8%), you'd take home $178,668,600
(not counting back taxes, outstanding student loans, mandated child support payments, etc. which they would collect as well).

Sounds like a pretty damn good chunk of change to me (especially since I live in California).

http://www.inquisitr.com/411183/powe...million-prize/
http://www.afterlotto.com/lottery_calculator.html
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