this post was submitted on 30 Dec 2024
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Lotterule (lemmy.world)
submitted 3 weeks ago by nifty to c/[email protected]
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[–] [email protected] 19 points 3 weeks ago* (last edited 3 weeks ago)

Note that most of that difference is due to picking the lump sum, not due to taxes.

If the winner picks the lump sum, that $2.04 billion drops to $997.6 million.

Also I'm not sure where the $424M number is from. The federal tax rate is 37% (bringing the sum down to $628M) and California (where the winner is) doesn't tax these winnings.

Source.