Assuming you had no reduction to your taxable income — such as large charitable contributions — another 13%, or $34.2 million, would be due to the IRS. That would be $97.3 million in all going to Uncle Sam.Then there are state taxes, which range from zero to more than 8% depending on where the ticket was purchased and where the winner lives.
Nevertheless, the after-tax amount would be life changing. Experts say large lottery winners should assemble a team of experienced professionals — an attorney, a tax advisor and a financial advisor — to help navigate the windfall. The last time there was a top-prize winner was on March 28, when a Wisconsin man nabbed a $768.4 million jackpot. Manuel Franco, who claimed his haul in late April, chose the lump sum cash option of $477 million. After federal and state tax withholdings, he received $326 million.
O,really thanks
well you sure as hell can't earn it I have 2 degrees and tried to get a job for 20 years Not like you can apply for an executive boardroom job.
Bring on the taxes!
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