Oh you lucky tractor man
- Thread starter Lazarus
- Start date
Vae
Resident Freddy
- Joined
- Dec 23, 2003
- Messages
- 1,182
He's not paid $40m in taxes.
The normal options in situations like this is that the $90m is based upon a system of receiving so much per year which eventually reaches $90m. Alternatively you can have all the cash now but it is discounted to reflect this fact and thus is a lot smaller. Of course this is not something they publicise when they say $90m jackpot
As it mentions in the article he'll now be taxed on the $49.9m he did receive.
The normal options in situations like this is that the $90m is based upon a system of receiving so much per year which eventually reaches $90m. Alternatively you can have all the cash now but it is discounted to reflect this fact and thus is a lot smaller. Of course this is not something they publicise when they say $90m jackpot
As it mentions in the article he'll now be taxed on the $49.9m he did receive.
DaGaffer
Down With That Sorta Thing
- Joined
- Dec 22, 2003
- Messages
- 18,528
Dweller said:
Google is your friend - to get the full amount its paid in 30 annual installments. Most winners take the upfront cash option apparently...
http://www.in.gov/hoosierlottery/games/howtoplaypowerball.asp
Stimpy
Fledgling Freddie
- Joined
- Dec 22, 2003
- Messages
- 674
The Hoosier Lottery advertises the estimated annuity jackpot in both games. An annuity jackpot amount is the amount of money that is in the jackpot pool (from sales) and then invested by the Hoosier Lottery in a conservative method over a period of 25 years to accumulate interest in order to obtain the larger, estimated jackpot amount.
25 years - I think I'd take the cash to
25 years - I think I'd take the cash to
