If the winner takes the annuity he will get about 1.25 billion over 30 years after Fed Taxes. Kali doesn't tax lotto winnings. The Fed tax rate could easily change and go from less than a 40% to 95% or more. Smart people take the lump sum payout which would be at most $700 million and invest it to get higher returns on the money. Lotto "jackpots" are propaganda and lotteries are taxes on people too stupid to do math.
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One ticket in California for $2.04 billion. I wonder how much the state will skim in taxes?
If the winner takes the annuity he will get about 1.25 billion over 30 years after Fed Taxes. Kali doesn't tax lotto winnings. The Fed tax rate could easily change and go from less than a 40% to 95% or more. Smart people take the lump sum payout which would be at most $700 million and invest it to get higher returns on the money. Lotto "jackpots" are propaganda and lotteries are taxes on people too stupid to do math.
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