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To: MercyFlush

I don’t know if it’s still true or true in such a huge number, but in California the lotto winnings are (or were) exempt from state taxes. Which is a whopping 13.9%+ So, if a Californian wins, they just pay the Federal top rate.

Of course, I’d take the lump sum vs the 30 year installment so it’s probably more like $450 million. $600 million lump sum less apx 24% federal tax.


14 posted on 07/27/2022 3:34:39 PM PDT by monkeyshine (live and let live is dead)
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To: monkeyshine

Best count on paying 37% in taxes…


19 posted on 07/27/2022 3:40:00 PM PDT by aMorePerfectUnion (Fraud vitiates everything. )
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