The taxes get removed before you get the money, IIRC

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Post #407,529 by malraux 1/13/16 3:05:30 PM 1/13/16 3:05:30 PM Reply	The taxes get removed before you get the money, IIRC So with the immediate payout 1.5B ends up being about 500M before you get anything. Regards, -scott Welcome to Rivendell, Mr. Anderson.
Post #407,530 by boxley 1/13/16 5:15:02 PM 1/13/16 5:15:02 PM Reply	but not if you take payments the taxes are removed during each annual payment. However of you pass all taxes on the balance needs to be paid before heirs get a dime always look out for number one and don't step in number two
Post #407,542 by Another Scott 1/13/16 11:57:58 PM 1/13/16 11:57:58 PM Reply	Some state-by-state calculations. https://www.usamega.com/powerball-jackpot.asp It doesn't seem to say anything about dying early, though. Assuming a $1.5B jackpot: Louisiana: 5% State Tax - $2,644,000 for annuity - $49,175,000 for lump sum Your average net per year: $37,016,000 annuity Your net payout: $688,450,000 lump After 30 payments: $1,110,480,000 annuity Cheers, Scott. (Presumably the first thing the winner will do is talk to a tax advisor and learn the skinny for their particular circumstances.)

if you win the powerball - (boxley) - (12) - Jan. 9, 2016, 04:59:11 PM EST

You can't win if you don't bet. - (a6l6e6x) - (6) - Jan. 11, 2016, 09:55:46 PM EST

600 mill before taxes 450 mill after taxes, lotta hookers and blow in there -NT - (boxley) - (5) - Jan. 13, 2016, 12:39:46 PM EST

Pre-tax $1,500,000,000 now. Thats paid out over many years. - (a6l6e6x) - (4) - Jan. 13, 2016, 01:59:24 PM EST

need to cash it out and pay taxes - (boxley) - (3) - Jan. 13, 2016, 02:34:25 PM EST

The taxes get removed before you get the money, IIRC - (malraux) - (2) - Jan. 13, 2016, 03:05:30 PM EST

but not if you take payments - (boxley) - Jan. 13, 2016, 05:15:02 PM EST

Some state-by-state calculations. - (Another Scott) - Jan. 13, 2016, 11:57:58 PM EST

Three winners so far. - (pwhysall) - (4) - Jan. 14, 2016, 04:05:42 AM EST

"You can't win if you don't play!" -NT - (Another Scott) - (3) - Jan. 14, 2016, 08:06:57 AM EST

You can't win if you DO pay - (drook) - (2) - Jan. 14, 2016, 09:47:57 AM EST

1/35 for $4 or more isn't that horrible. -NT - (Another Scott) - Jan. 14, 2016, 10:20:22 AM EST

LRPD reminds, All gravitas is local. -NT - (Ashton) - Jan. 15, 2016, 03:54:51 PM EST

Excuse me while I go throw up.
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