$340 Million Powerball

Bob Moore wrote:

UltraJohn wrote
Yes Chris but in my state if the lottery hit $340 million your take if
done on installments would be about 8.8 million after taxes and yes
the government is getting a huge part of it especially since basically
they're paying you the interest off of it. But hey I think I can find
something constructive (and yes blow some)to do with 8.8 million.
Our lottery works out to you get about $26K per million jackpot and is
currently at $108 million (at least before last nights drawing).
John

I don't know where your figures came from, but had I won the $340 million,
taking the lump sum would have reduced it to about $190 million and then
paying federal tax on the lump sum would have cut it to around $115
million. A rough calculation for the lump sum payout is to take home about
one third of the published ammount. Taking the 30 years worth of
installments, would net one about $6 million per year.

Bob Moore...In sunny, state-tax-free Florida.


Possibly differences in state taxes. This was just a rough estimate that
"they" passed around for rough planning purposes for when 'I' win the
lottery. ;-)
john