ST Alpha - "Lotto Max in Canada is $50 Million Friday (lump sum, tax free) -- nm" (Reading a Post)

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In response to "Mega Millions jackpot is $200 million. drawing is this Friday. I'm gonna make a $2 donation -- nm" by CQ: Spring In My Step

Lotto Max in Canada is $50 Million Friday (lump sum, tax free) -- nm

Posted by Beaker (aka anniebecca) Mar 14 '12, 13:09

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Responses:

lump sum take is $123 mill -- nm - CQ: Spring In My Step Mar 14, 13:10 5
- then slice your taxes off that -- nm - decline Mar 14, 13:11 4
  - what are taxes on lottery winning? 50%? -- nm - sycor Mar 14, 13:14 3
    - depends on what state you live in but a good rule of thumb is around 30% -- nm - decline Mar 14, 13:17
    - Assume if you win and take the lump sum payment, you get 1/3 the value of the jackpot after taxes. -- nm - Will Hunting Mar 14, 13:16
    - 30% -- nm - zeitgeist Mar 14, 13:15

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