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Started By
Message
There was $273,869,273 in other prizes won and the pot split 3 ways
Posted on 1/14/16 at 7:13 am
Posted on 1/14/16 at 7:13 am
So each prize winner will get $130 Mil give or take if they take the cash payout after the lotto fees and taxes?
10
Posted on 1/14/16 at 7:21 am to stout
Posted on 1/14/16 at 7:22 am to stout
Looks correct to me. $130 million in a cash payout would be a nice life - for a person educated on how to handle money.
Posted on 1/14/16 at 7:22 am to stout
frick it. I'll take it.
Posted on 1/14/16 at 8:01 am to stout
I don't think anything other than the jackpot come out of the 1.5 billion? So all the other cash prizes come out of another account and the jackpot is split between the 3 winning tickets which brings up their take home cash....I think.
Posted on 1/14/16 at 8:10 am to jpggpj
quote:
I don't think anything other than the jackpot come out of the 1.5 billion? So all the other cash prizes come out of another account and the jackpot is split between the 3 winning tickets which brings up their take home cash....I think.
I'm pretty sure this is correct.
Posted on 1/14/16 at 8:11 am to Federal Tiger
Wouldn't have to be THAT educated.
Posted on 1/14/16 at 8:28 am to stout
quote:
So each prize winner will get $130 Mil
seems like it would be higher...only 390 million in cash off of 1.58 billion?
Posted on 1/14/16 at 8:30 am to stout
The other prizes paid out do not come from the jackpot.
Posted on 1/14/16 at 8:33 am to jpggpj
quote:
I don't think anything other than the jackpot come out of the 1.5 billion?
So the $273 mil in other prizes is paid how?
This post was edited on 1/14/16 at 8:34 am
Posted on 1/14/16 at 8:34 am to SprintFun
quote:
The other prizes paid out do not come from the jackpot.
I was trying to find this on their site now because I am curious but I don't see where they say this. I assumed it would all come out of the pot.
Posted on 1/14/16 at 8:35 am to stout
quote:
So the $273 mil in other prizes is paid how?
Good question, because they advertise what the lump sum payout would be for hitting the jackpot...I'm guessing they factor this in when they calculate the jackpot?
This post was edited on 1/14/16 at 8:46 am
Posted on 1/14/16 at 8:35 am to stout
quote:
So the $273 mil in other prizes is paid how?
The lottery. I don't think all the money from the lottery goes towards the jackpot but I may be wrong.
This post was edited on 1/14/16 at 8:51 am
Posted on 1/14/16 at 8:37 am to Spilled Milk
quote:
I'm guessing they factor this in when they calculate the jackpot?
That would make sense but seems risky because they have no way of knowing for sure and even a small variable could throw this way off. There was more than just the $273 million paid out this time due to money paid out in the previous weeks too.
Posted on 1/14/16 at 8:40 am to 13SaintTiger
So the 3 winners split the $930 million lump sum? So about $200 million each after taxes?
Posted on 1/14/16 at 8:40 am to 13SaintTiger
You are correct. The jackpot and other prizes is less than the total taken in.
Remember when they started the lottery in Louisiana and said all the profit would go to education? The state gets a share beside the income tax paid by winners.
Remember when they started the lottery in Louisiana and said all the profit would go to education? The state gets a share beside the income tax paid by winners.
Posted on 1/14/16 at 8:40 am to stout
On the Powerball website, it says that they can split the smaller prizes in rare circumstances so if 1,000 people hit the million dollar prize, they're covered.
Posted on 1/14/16 at 8:42 am to stout
quote:
The cash value, or lump sum total, of Wednesday's jackpot was $929.9 million.
quote:
If each takes the lump-sum payout, each winner will take home $187.2 million. None will have to pay state taxes -- neither Florida nor Tennessee has a state income tax, and California has a decades-old law that exempts lottery winners from paying state taxes. So they'll all only have to pay 39.6% in federal taxes.
Posted on 1/14/16 at 8:43 am to Federal Tiger
quote:It would be a nice life even for the most uneducated of people
Looks correct to me. $130 million in a cash payout would be a nice life - for a person educated on how to handle money.
Posted on 1/14/16 at 8:44 am to ForeverLSU02
quote:
So they'll all only have to pay 39.6% in federal taxes.
ONLY 39.6%...only...
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