Quote:
Originally Posted by GatorB
in megaball cash option is about 63% of jackpot. So she would get about $120 mil. 7.8% of that for Iadaho tax is $9.4 million. Not sure if she gets to deduct that $9.4 mil off her income for federal taxes. Usually you do in work income not sure here. Even if not max federal rate is 35%. So she'll get at least $69 mil but could be as high a s $72 if she gets the deduction.
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You're right, about $70 million - that's more than I thought. I know Megaball has a better cash option payout percentage, but didn't realize could it be upwards of 60% - that's a heck of lot better than Powerball's roughly 50%.
Still though, if she'd won that ticket in say Pennsylvania, she'd be getting an extra $6+ million ... sure, that seems like chump change when one wins $70+ million, but with the speed at which some big jackpot winners blow their money, every little bit could be the difference between having something and nothing - they're going to have every shyster, schemer, con, and of course lots of "long lost" friends and family members, including some they never knew existed, seeking money.
Ron