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Would not work unless it ballooned into 10 figures. Lump sum taxes would take most of the gains away and that assumes you are the only winner.
by dreaminvm 11y ago
Would not work unless it ballooned into 10 figures. Lump sum taxes would take most of the gains away and that assumes you are the only winner.
- LordKano 11y agoEach ticket you purchase is an expense that will reduce your tax liability. If you spent $500 million on tickets and won $800 million, your tax liability would only be on the $300 million profit.
- woobar 11y agoAnd the advertised Jackpot isa 30 years annuity. The lump sum is ~62% of the advertised Jackpot before taxes.
- Wingman4l7 11y agoUsed to be, the lump sum wasn't offered -- you had to sell your legal rights to the annuity to an investor to get it. You could still do this -- perhaps have open bidding on it; might net more than 62%.