To: tear_down_this_wall
wanna bet they split two ways instead of three?
8 posted on
11/13/2003 7:14:05 AM PST by
camle
(no fool like a damned fool)
To: camle
I am guessing that he won 2/3 of the money. The aftertax cash payment is usually almost about half of the original prize value. So he "won" about 45 million of the 70 mil.
11 posted on
11/13/2003 7:34:39 AM PST by
Hatteras
(Some mornings, it's just not worth chewing through the leather straps...)
To: camle
I'm sorry, I screwed that up. The cash option value is about half (maybe a little more) and then he is taxed on that. Either way, 26 million is about the total one would expect for winning 2/3 of a 70 million jackpot if you chose the "Cash" option.
If he was the soul winner and elected the cash option, he would have taken a one time check for about 39 million and then the gubmint would have taken their share of that.
12 posted on
11/13/2003 7:40:11 AM PST by
Hatteras
(Some mornings, it's just not worth chewing through the leather straps...)
To: camle
wanna bet they split two ways instead of three?
Put me down for $100 (one hundred dollars)
He gets 2/3rds.
To: camle
Nope each ticket is a winner. He gets 2/3. His mistake should net him an extra 3.5 million or so at present value after tax.
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