60% tax rate??!!?
Yikes!
Forgot about the lump sum vs annuity option.
Still a big bite.
It’s not a 60% tax rate.
The $66 million is if you take sum total of a 20-25 year annuity which will total $66 million after the disbursement.
Lotteries typically pay half of the actual number on a “I’ll take it all now.” basis. Now its up to her to make sound decisions and make sure that money actually is worth more than the $66 million she won over 20-25 years.
It shouldn’t be that hard since lotteries typically would take that principle and invest it in index funds or something equally conservative to get that full amount over 25 years. Sensibly invested that money will dwarf the actual lottery prize in 25 years.