$538million after federal taxes if they took the lump sum. Maine has a 5% tax so then it would be about $511million cash money
When You Win PB or Mega Lottey
- Thread starter FallOf81
- Start date
That can always be an issue for winners. They hold 25% for federal but it’s taxed as normal income. So if they are at the 35% (can’t remember the highest bracket), they probably have another 60-70MM due in taxes come filing time.
I know everyone says take the lump sum because you get the most but I would not. I would take the yearly payout. Hell even if I live two years after winning my family still made several million. The payouts would be easier to not waste in stupid things like education or the poors. I can plan my hookers and blow spending better when I know I have another check coming.
I would buy the Chicago Bears. No more f##king around.
CycloneErik
Well-Known Member
I got the Mega Ball this time...unfortunately that was my ONLY number so I get a whopping $2 prize. 
Better than I've done recently!I got the Mega Ball this time...unfortunately that was my ONLY number so I get a whopping $2 prize.
CycloneErik
Well-Known Member
I got the Mega Ball this time...unfortunately that was my ONLY number so I get a whopping $2 prize.
You don't build a community by bragging.
Mods, let's take care of this one.
I got mega balls also, all I get is a wide stance.I got the Mega Ball this time...unfortunately that was my ONLY number so I get a whopping $2 prize.
I figure I would take the lump, then pay off all my, my parents, and sister's debts. Then I'd buy a new car (mine is 11 years old with about 165k miles on it), house, and a few other things that I would want up front. The rest, I'd look to see about creating some sort of trust fund that doles out a certain amount on the 1st/15th of each month. That way the money is all mine no matter what happens to me, but I still get the benefit of figuring out how to handle that kind of money responsibly. Also hire people to help manage the money and deal with the inevitable people coming out of the woodwork (I'd have a few people who I'd give unfettered access to me, but not many).
Lump sum or over 20 years for your payments? LolI got the Mega Ball this time...unfortunately that was my ONLY number so I get a whopping $2 prize.
I think I will live dangerously and let it ride for the next drawing...turn my $2 windfall into $20MM!
Another story of a lottery winner losing all their winnings.....I think I will live dangerously and let it ride for the next drawing...turn my $2 windfall into $20MM!
View attachment 108276
After careful consideration and consulting with family and friends, I would like to announce that I am placing my $2 winnings in the lottery transfer portal. I will be purchasing a Powerball ticket and will forever be grateful to the Mega Millions for the opportunity they gave me. It is not about the money, I just feel the PB will be a better fit for me...
'Fess up - you just wanted to play closer to home!
I have always wondered, if you take the lump sum, you have a high rate of taxes, but can you donate that money instead of giving it to the government? Say give 100 million to ISU instead of giving that money as tax?