this post was submitted on 30 Dec 2024

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Lotterule (lemmy.world)

submitted 1 week ago by [email protected] to c/[email protected]

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[–] ArbitraryValue 5 points 1 week ago* (last edited 1 week ago)

Note that most of that difference is due to picking the lump sum, not due to taxes.

If the winner picks the lump sum, that $2.04 billion drops to $997.6 million.

Also I'm not sure where the $424M number is from. The federal tax rate is 37% (bringing the sum down to $628M) and California (where the winner is) doesn't tax these winnings.