LogFAQs > #966876785

CellBlock7 posted...

Pretty insane that if you hit and take the single payout, you'd end up walking with less than $400 million. Right now the single payout amount is estimated at $602.7 millon (Which is still more than plenty, just amazing how much gets shaved off when you choose the single payment option and then couple that with the taxes that get lopped off after that) and It's estimated right now that you'd walk with $379.6 million, but that's if you live in a state with no income tax. If you have state tax, you'll come away with even less.

My biggest question is, where does the initial $400+ million go when you choose to take the single payout option? Back into the lottery?

I guess when you take the yearly, some of it is paid with Interest (and they tax that as well) so long term wise its more profitable for them to do it that way