Who here is $410.3-893.5 milion richer ???

[CG2014]

Two winning tickets were sold for the $1.787 Billion Powerball Jackpot.


One in Texas, one in Missouri.


Each ticket holder will have the choice between an annuitized prize of $893.5 million or a lump sum payment of $410.3 million.


Both prize options are before taxes.


If a winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5-percent each year.


How does the government keeps $900 million to $1.3 billion of it and that's before the winner has to pay taxes too.


So the jackpot is not really $1.787 billion, then!!

[Wile E Coyote]

Simple. You have to pay taxes on the disbursement and pay taxes on it when you file, both of which are at a higher rate due to it not being money from a payroll.

That is the lottery pays for all their overhead and employees calling it a tax, and the places where you can buy the tickets also keep a percentage of the proceeds from selling the tickets and get a piece of the pie when a customer buys the winning ticket from their location.

[TalliaThomas]

Look at the bright side--- no state taxes in Texas.